Banking

NACA Opposes Bill That Would Deregulate Banks

Publish Date: 
March 5, 2018
Type: 
legislative

NACA writes the U.S. Senate to urge opposition to S. 2155, the “Economic Growth, Regulatory Relief, and Consumer Protection Act.” The financial marketplace does not need legislation that would eliminate banking safeguards, especially those installed after the 2008 financial crisis. This bill is being pushed under the guise of protecting community banks, but in reality it would weaken protections for homeowners and expand the scope of risky activity for big banks and lenders to engage in at the expense of American consumers and the economy.

 

Bill Would Hamper Regulator Warning Signs to Financial Institutions of Potential Criminal Activity

Publish Date: 
October 11, 2017
Type: 
legislative

NACA, organizations oppose H.R. 2706, the Financial Institution Customer Protection Act of 2017. The bill will hamper the efforts of banking regulators to advise financial institutions of warning signs that their customers are engaging in fraud, money laundering, or other illegal activity, putting consumers and financial institutions at risk of serious financial loss. The bill would also promote spurious litigation against regulators and financial institutions when an account is closed. 

Groups Urge CFPB to Address Overdraft Fee Abuses

Publish Date: 
September 27, 2017
Type: 
legislative

The Community Bank Advisory Council of the Consumer Financial Protection Bureau (bureau) should recommend meaningful solutions to address the size and number of overdraft fees that institutions mount on their customers, said five public interest organizations (Americans for Financial Reform, Center for Responsible Lending, Public Citizen, National Consumer Law Center, and NACA) in a letter to the bureau.

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