Financial Trade Groups Ask Supreme Court for Stable, Uniform TCPA Rules (2/14/19)
The ABA, along with the Consumer Bankers Association and the Independent Community Bankers of America, filed a friend-of-the court brief asking the Supreme Court to provide stability and uniformity to the Federal Communications Commission’s rules interpreting the Telephone Consumer Protection Act. The associations urged the Supreme Court to require district courts to follow the FCC’s interpretations, which would give banks greater certainty that their nationwide compliance programs will not be upended by a decision from a single federal district court. For more information, contact ABA's Jonathan Thessin.
ABA, Groups Welcome CFPB ‘Sandbox’ Proposal (2/11/19)
In a letter to the Consumer Financial Protection Bureau, ABA and three other trades offered support for the Bureau’s proposed changes to its 2016 No-action Letter policy (NAL) and its proposal to establish a “sandbox” to enable banks and financial technology companies to test new products, services and delivery mechanisms. We recommended that the Bureau: strengthen liability protections for companies that comply in good faith with the terms of a NAL or Sandbox approval; coordinate proactively with other regulators; ensure the confidentiality of data and information; and commit to amending relevant regulations when program experience demonstrates it is warranted. For more information, contact ABA’s Virginia O’Neill.