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Tuesday, June 10, 2014

Happening Today: House Financial Services Committee to Markup CFPB Bills; Cordray to Testify Before Senate Banking Committee

The House Financial Services Committee will meet today to vote on six CFPB reform bills. The bills would reform the Consumer Financial Civil Penalty Fund, require an independent inspector general for the CFPB, apply the Federal Advisory Committee Act to CFPB committee meetings, create a Small Business Advisory Board within the bureau, require transparency in CFPB research and require a notice-and-comment period prior to CFPB guidance being issued.

Today, CFPB Director Cordray will appear before the Senate Banking Committee to present the agency's semi-annual report to Congress.

View Cordray's testimony.

Watch the hearing live.

The ABIA has a task Force of members that work on issues related to the CFPB's regulation of insurance products, including debt protection products. If you are an ABIA member and would like to learn more about ABIA's work with CFPB to educate them about the bank-insurance industry or join our CFPB Task Force, please contact us and visit our website.