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Consumer Credit Access, Innovation, and Modernization Act
Legislative Progress
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
86pct
75d open
vs 6,662 other HR bills in the 112th — cohort avg 39d
No CRS summary is available for this bill yet. The source title, actions, sponsors, and text versions below come from Congress.gov.
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Filing registrants (16)
Bills with similar content found using semantic analysis.
Sources: Congress.gov
2013 · first_quarter · Financial Institutions/Investments/Securities
Issues related to Financial Reform. Implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act; treatment of community lenders, formation of CFPB; H.R. 4014: To amend the Federal Deposit Insurance Act; S. 2099: A bill to amend the Federal Deposit Insurance Act; H.R. 1121, the Responsible Consumer Financial Protection Regulation Act of 2011; H.R. 1315, the Responsible Consumer Financial Safety and Soundness Act of 2011;H.R. 6139, Consumer Credit Access, Innovation, and Modernization Act; S. 3426, SAFE Lending Act of 2012; S. 3452, Protecting Consumers from Unreasonable Credit Rates Act of 2012.
Client expense: Not reported · Firm income: $70,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2013 · first_quarter · Banking
Support of H.R. 6139 the Consumer Credit Access, Innovation, and Modernization Act.
Client expense: $34,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Minerals Management Service, SENATE
2012 · fourth_quarter · Financial Institutions/Investments/Securities
Issues related to the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act;FFSCC Charter Act of 2011 (To create a charter for Federal Financial Services and Credit Companies); Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) regulations; short-term credit issues related to H.R.6139, To create a Federal charter for National Consumer Credit Corporations, and for other purposes.
Client expense: $180,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Office of the Comptroller of the Currency (OCC), SENATE, Treasury, Dept of
2012 · fourth_quarter · Banking
Support of H.R. 6139 the Consumer Credit Access, Innovation, and Modernization Act.
Client expense: $36,500 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Minerals Management Service, SENATE
2012 · fourth_quarter · Financial Institutions/Investments/Securities
Eliminate predatory lending; ensure equal access to financial services to all Americans. Eliminate disparities in credit reporting. Ease home mortgage foreclosure crisis. Eliminate pay day lending. Support capping all interest rates at 36% APR. Support a strong, responsive Consumer Financial Protection Bureau. Oppose "vulture funds". Support debt relief for poor nations, a.k.a. the Jubilee Act. Reform the mortgage servicers industry so that more loans are modified and fewer homes are foreclosed upon. Support reauthorization, modernization and expansion of the Community Reinvestment Act (CRA),. Support efforts to eliminate predatory loans. Oppose exploitative payday loans; Support 36% interest rate cap; . Oppose federal preemption of state consumer financial protection laws. Reform the mortgage servicers industry so that more loans are modified and fewer homes are foreclosed upon. Try to stop abusive credit card practices. Support allowing bankruptcy judges to require loan modifications on primary residence mortgages. Oppose exploitative payday lending. Support efforts to eliminate predatory lending. Support reauthorization, modernization and expansion of the Community Reinvestment Act (CRA). oppose the elimination of funding for HUD's housing counseling programs. Support financial literacy programs. Support a ban on the use of credit reports by potential employers. Support Dr. Elizabeth Warren to be the first Director of the Consumer Financial Protection Bureau. Oppose H.R. 839, terminating the HAMP program; oppose H.R. 861, terminating HUD's Neighborhood Stabilization Program; oppose H.R. 836, terminating HUD's emergency Mortgage Relief program; oppose H.R. 830, terminating the FHA Refinance Program. Support a strong Consumer Financial Protection Bureau, which begins its activities as soon as possible. Oppose H.R. 1121; oppose H.R. 1315; oppose legislation intended to delay regulatory authority of the CFPB until a Director is confirmed; oppose legislation removing the prudential regulators ability to allow the CFPB to participate in examinations of large financial institutions before the designated transfer date. Support pro-consumer changes to the GSEs (Fannie Mae and Freddie Mac). Oppose a piecemeal approach to reforming Fannie Mae and Freddie Mac ("the GSEs"). Support a comprehensive approach to housing finance reform that will further the federal governments housing policy objectives of promoting residential integration, eliminating housing discrimination, and providing safe, decent, and affordable housing for all. Express grave concerns about proposed rules for risk-based pricing rule. Strengthening the proposed rule for holding servicers accountable for illegal deeds. Oppose delaying regulations limiting fees charged to merchants by issuers of debit cards. Support a flexible and inclusive definition of "larger participants" by the Consumer Financial Protection Bureau (participated in a CFPB roundtable discussion on the issue). Express grave concerns about the promulgation of the Dodd-Frank Credit Score disclosure requirement. Support keeping responsible and affordable mortgage credit flowing to all neighborhoods and to all qualified borrowers, stopping wrongful foreclosures, and support the development of affordable rental homes close to good schools and quality jobs Support a more thorough investigation into the Capital One /ING merger. Support extending the public comment period on the merger as well as five public hearings around the country. Oppose potential employers reviewing a potential employees credit report / credit score prior to making any hiring decision. Support HR 321. Support sensible, non-exploitative mortgage lending. Adopt a qualified mortgage standard that will not shut out prospective minority homeowners. Support Richard Cordray to be Director of the Consumer Financial Protection Bureau. Contact the Federal Housing Finance Agency (and others) in support of risk retention as defined in the Dodd-Frank bill but opposed to a high downpayment to qualify for a Qualified Residential Mortgage (QRM). Contact the FHFA in support of a more robust federal response to the foreclosure crisis, including banning the two track system whereby homeowners facing foreclosure who are trying to modify their loan also find their foreclosure proceeding moving ahead. Outlaw Robosigning and remedy homeowners adversely affected by the practice, in which many servicers did not even read the foreclosure documents they were signing. Principal reductions should be provided in both the federal governments home loan modification programs and each financial institutions private loan modification programs. They should include heightened loss-mitigation standards. Finally, they should also include a forbearance program to help unemployed homeowners. Support strong action by the Consumer Financial Protection Bureau in protecting consumers from abusive checking account policies. Support allowing consumers to transfer banking accounts to a different institution with little or no monetary repercussion. Support HR 3077. Support Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB). Support significantly strengthening the Office of the Comptroller of the Currencys (OCC) proposed guidance on overdraft programs and deposit advance products in such a way that all customers receive the lowest cost credit for which they qualify, and national banks are encouraged to offer responsible overdraft and credit products. Support the Reed (RI) amendment to S. 1867 which closed a loophole allowing payday lenders to charge members of the military more than 36% for short-term loans. Supported the Consumer Financial Protection Bureau (CFPB) take strong steps to stop checking account abuses. Specifically, we asked that the CFPB: Require information on important checking account terms to be disclosed in a one-page Consumer Choice Box; Require complete disclosure of all overdraft options; Require reasonable and proportional overdraft fees; Require the posting of deposits and withdrawals in a neutral manner; and Examine the prevalence of dispute resolution clauses in checking account agreements and the existence of fee shifting provisions that require the account holder to pay at least a portion of the banks costs when a dispute occurs. Support a two-month extension of the comment period to allow the Federal Reserve Board to hold a formal hearing and public meetings in at least five cities about Capital Ones proposed acquisition of Bank Nevada, N.A. Oppose H.R. 3035, the Mobile Informational Call Act of 2011. Support a study of the regulation of interchange fees but oppose a delay in the implementation of the Durbin amendment to Dodd-Frank. Urge the Consumer Financial Protection Bureau (CFPB) to define "larger participants" among dect collectors and consumer reporting agencies broadly, yet in a manner that does not allow companies to evade review. Also encouraged the CFPB to examine all of an entities' consumer financial products and services. Support H.R. 2086 / S. 2149, the Medical Debt Responsibility Act, which requires that credit agencies to remove FULLY paid or settled medical debt from credit reports within 45 days. Support the CFPB adopting a definition of the Qualified Mortgage that covers the vast majority of the marketplace, so that most mortgage borrowers have the benefit of the strongest protections. Oppose any narrowing of the definitions of consumer or credit that are subject to Equal Credit Opportunity Act to match the narrower definitions in the Truth in Lending Act (TILA) or other statutes. (We also oppose narrowing the coverage of TILA or the Real Estate Settlement Procedures Act.). Oppose expanding exemptions to the data reporting requirements of Regulation C under the Home Mortgage Disclosure Act (HMDA). The CFPB should not weaken the rule that credit card issuers must consider the consumers independent ability to pay and cannot, as a general matter, rely solely on household income. Support Helping Homeowners Refinance Act of 2012, S. 2072 Support federal regulators of our nations banks to take immediate action to stop banks from making unaffordable, high-cost payday loans. Support inclusion of consumer narratives be in the CFPB's credit card complaint database. Support the settlement between the States' Attorneys Generals and several financial institutions regarding robosigning and foreclosures. Support the settlement between U.S. Department of Justice and Bank of America over Countrywide's discriminatory mortgage lending practices. Support Leon Russell to serve on the CFPB Advisory Panel. Oppose the Red Tape Reduction and Small Business Job Creation Act" (H.R. 4078), which includes the Regulatory Freeze For Jobs Act, the Midnight Rule Relief Act of 2012" (H.R. 4607), and the Sunshine for Regulatory Decrees and Settlements Act of 2012 (H.R. 3862), among other harmful bills. Support the prohibition of overdraft fees and credit on Prepaid Cards (letter to the CFPB). Oppose H.R. 6139, the National Consumer Credit Corporation Charter and Consumer Access Innovation Act of 2012, and any similar legislation that may be introduced. Oppose all proposals to weaken the structure, powers or funding of the Consumer Financial Protection Bureau, including the proposal which would eliminate the Consumer Financial Protection Bureaus (CFPB) independence by making it the only bank regulatory agency placed under the appropriations process. Oppose Urban Trust Bank from partnering with the payday lender CheckSmart (formerly known as Buckeye Check Cashing) and Insight Card Services, LLC to help CheckSmart evade state usury and payday loan laws by making payday loans on prepaid cards. As the CFPB defines the entities that will be subject to examination in this and future rulemakings, it should define larger broadly, prevent evasions by including counting the revenues of affiliated companies and also firms that act as agents or are under contract to another firm, and examine all of an entitys consumer financial products and services even if it is a larger participant in just one market. Strongly support H.R. 2086 and S. 2149, the Medical Debt Responsibility Act Support extending mortgage protections under the Servicemember Civil Relief Act. Support the Cummings (MD) amendment to HR 4310. Support that the Consumer Financial Protection Bureau develop and promulgate adequate mortgage servicing rules that will cover the range of market participants, make the needed changes, last beyond individual time-limited programs, and be effectively enforceable (urge the CFPB to amend current proposed rules). Support the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act of 2012 (S. 3426 / H.R. 6483), which requires all on-line small-dollar lenders (such as payday lenders) to comply with state law if it provides better consumer protections than federal law; prevents national banks and federal savings and loans from making payday loans in violation of the state law where the consumer resides; provides new federal enforcement measures to protect consumers from online payday lenders that seek to evade state consumer protection laws, such as by locating their businesses off-shore, or affiliating with a Native American Tribe and claiming the right to assert the tribes sovereign immunity; empowers Tribes to enlist the help of the CFPB where needed to protect their members from abusive payday lending on the reservation, and respecting tribal laws that provide stronger consumer protections than are available under state law; closes the single payment loophole in the Electronic Fund Transfer Act and extending consumer control over electronic payment of credit to all loans; safeguards consumer data by banning lead generators who traffic in payday loan application information via marketing websites, and prohibiting them from anonymously collecting sensitive consumer data; and stops lenders from using borrowers bank account details to create unsigned checks used to withdraw funds, even when consumers have exercised their federal rights against compulsory electronic payment of credit under the Electronic Fund Transfer Act. Support S. 3452 to impose a federal usury cap on credit while permitting states to set lower rates. Oppose the inclusion of any down payment requirement as part of the Qualified Residential Mortgage (QRM) standard. Oppose H.R. 1909, Federal Financial Services and Credit Companies Charter Act of 2011. Support a prohibition on overdraft fees and any form of credit on pre-paid credit cards. Advocated that the United States use its stature and position to have the NAACP policy agenda included in any and all relevant United Nations' treaties and other compliance documents. Support the inclusion of a public database as an integral part of the CFPB complaint process. Support S 3452, Protecting Consumers from Unreasonable Credit Rates Act of 2012". Support HR 6483 / S. 3426, the Stopping Abuse and Fraud in Electronic Lending Act of 2012 or SAFE Lending Act of 2012. Oppose the Federal Charter for Payday Lenders bill, H. R. 6139. Expressed concern that the loss mitigation provisions included in the CFPB's proposed servicing regulations , including but not limited to the provisions on dual track, are inadequate to solve the servicing problems that cause unnecessary foreclosures and which are imposing profound and damaging costs on households, neighborhoods and our economy as a whole. We are also seriously concerned about the limits of the error resolution rules. Support S. 3085, The Responsible Homeowner Refinancing Act of 2012, oppose an amendment to that bill that would provide a so-called safe harbor under the Qualified Mortgage (QM) rules currently being drafted by the Consumer Financial Protection Bureau
| Democratic |
| CA |
| Pete Sessions | Republican | TX |
| Stephen Lee Fincher | Republican | TN |
| Steve Stivers | Republican | OH |
| Walter B. Jones | Republican | NC |
Client expense: $62,500 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Bureau of Indian Affairs (BIA), Centers For Disease Control & Prevention (CDC), Commerce, Dept of (DOC), Defense, Dept of (DOD), Education, Dept of, Energy, Dept of, Environmental Protection Agency (EPA), Equal Employment Opportunity Commission (EEOC), Federal Aviation Administration (FAA), Federal Bureau of Investigation (FBI), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Emergency Management Agency (FEMA), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Park Service (NPS), Office of Personnel Management (OPM), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), Social Security Administration (SSA), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Commission on Civil Rights, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), Voice of America, White House Office
2012 · fourth_quarter · Banking
Eliminate predatory lending; ensure equal access to financial services to all Americans. Eliminate disparities in credit reporting. Ease home mortgage foreclosure crisis. Eliminate pay day lending. Support capping all interest rates at 36% APR. Support a strong, responsive Consumer Financial Protection Bureau. Reform the mortgage servicers industry so that more loans are modified and fewer homes are foreclosed upon. Try to stop abusive credit card practices. Support allowing bankruptcy judges to require loan modifications on primary residence mortgages. Oppose exploitative payday lending. Support efforts to eliminate predatory lending. Support reauthorization, modernization and expansion of the Community Reinvestment Act (CRA). oppose the elimination of funding for HUD's housing counseling programs. Support financial literacy programs. Support a ban on the use of credit reports by potential employers. Support Dr. Elizabeth Warren to be the first Director of the Consumer Financial Protection Bureau. Oppose H.R. 839, terminating the HAMP program; oppose H.R. 861, terminating HUD's Neighborhood Stabilization Program; oppose H.R. 836, terminating HUD's emergency Mortgage Relief program; oppose H.R. 830, terminating the FHA Refinance Program. Support a strong Consumer Financial Protection Bureau, which begins its activities as soon as possible. Oppose H.R. 1121; oppose H.R. 1315; oppose legislation intended to delay regulatory authority of the CFPB until a Director is confirmed; oppose legislation removing the prudential regulators ability to allow the CFPB to participate in examinations of large financial institutions before the designated transfer date. Support pro-consumer changes to the GSEs (Fannie Mae and Freddie Mac). Oppose a piecemeal approach to reforming Fannie Mae and Freddie Mac ("the GSEs"). Support a comprehensive approach to housing finance reform that will further the federal governments housing policy objectives of promoting residential integration, eliminating housing discrimination, and providing safe, decent, and affordable housing for all. Oppose delaying regulations limiting fees charged to merchants by issuers of debit cards. Support a flexible and inclusive definition of "larger participants" by the Consumer Financial Protection Bureau (participated in a CFPB roundtable discussion on the issue). Express grave concerns about the promulgation of the Dodd-Frank Credit Score disclosure requirement. Oppose potential employers reviewing a potential employee's credit report or credit score prior to making a hiring decision. Support HR 321 Support strong action by the Consumer Financial Protection Bureau in protecting consumers from abusive checking account policies. Support allowing consumers to transfer banking accounts to a different institution with little or no monetary repercussion. Support HR 3077. Support Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB). Support significantly strengthening the Office of the Comptroller of the Currencys (OCC) proposed guidance on overdraft programs and deposit advance products in such a way that all customers receive the lowest cost credit for which they qualify, and national banks are encouraged to offer responsible overdraft and credit products. Support a study of the regulation of interchange fees but oppose a delay in the implementation of the Durbin amendment to Dodd-Frank. Support H.R. 2086 / S. 2149, the Medical Debt Responsibility Act, which requires that credit agencies to remove FULLY paid or settled medical debt from credit reports within 45 days. Support a strong settlement to the legal actions under discussion, and one that leaves open the path for further needed actions to hold lawbreakers accountable in the matter of the states Attorneys General and the Federal Government versus various financial institutions for breaking the law in terms of mortgages. Supported the Consumer Financial Protection Bureau (CFPB) take strong steps to stop checking account abuses. Specifically, we asked that the CFPB: Require information on important checking account terms to be disclosed in a one-page Consumer Choice Box; Require complete disclosure of all overdraft options; Require reasonable and proportional overdraft fees; Require the posting of deposits and withdrawals in a neutral manner; and Examine the prevalence of dispute resolution clauses in checking account agreements and the existence of fee shifting provisions that require the account holder to pay at least a portion of the banks costs when a dispute occurs. Support a two-month extension of the comment period to allow the Federal Reserve Board to hold a formal hearing and public meetings in at least five cities about Capital Ones proposed acquisition of Bank Nevada, N.A. Oppose H.R. 3035, the Mobile Informational Call Act of 2011, Support the CFPB adopting a definition of the Qualified Mortgage that covers the vast majority of the marketplace, so that most mortgage borrowers have the benefit of the strongest protections. Oppose any narrowing of the definitions of consumer or credit that are subject to Equal Credit Opportunity Act to match the narrower definitions in the Truth in Lending Act (TILA) or other statutes. (We also oppose narrowing the coverage of TILA or the Real Estate Settlement Procedures Act.) Oppose expanding exemptions to the data reporting requirements of Regulation C under the Home Mortgage Disclosure Act (HMDA). The CFPB should not weaken the rule that credit card issuers must consider the consumers independent ability to pay and cannot, as a general matter, rely solely on household income. Support Helping Homeowners Refinance Act of 2012, S. 2072 Support federal regulators of our nations banks to take immediate action to stop banks from making unaffordable, high-cost payday loans. Support inclusion of consumer narratives be in the CFPB's credit card complaint database. Support the settlement between the States' Attorneys Generals and several financial institutions regarding robosigning and foreclosures. Support the settlement between U.S. Department of Justice and Bank of America over Countrywide's discriminatory mortgage lending practices. Support Leon Russell to serve on the CFPB Advisory Panel. Supported access to individual complaints, as well as data collection as to who is making the complaints, to the CFPB (while putting key protections in place to ensure individual privacy). Oppose the Red Tape Reduction and Small Business Job Creation Act" (H.R. 4078), which includes the Regulatory Freeze For Jobs Act, the Midnight Rule Relief Act of 2012" (H.R. 4607), and the Sunshine for Regulatory Decrees and Settlements Act of 2012 (H.R. 3862), among other harmful bills. Support the prohibition of overdraft fees and credit on Prepaid Cards (letter to the CFPB). Oppose H.R. 6139, the National Consumer Credit Corporation Charter and Consumer Access Innovation Act of 2012, and any similar legislation that may be introduced. Oppose all proposals to weaken the structure, powers or funding of the Consumer Financial Protection Bureau, including the proposal which would eliminate the Consumer Financial Protection Bureaus (CFPB) independence by making it the only bank regulatory agency placed under the appropriations process. Oppose Urban Trust Bank from partnering with the payday lender CheckSmart (formerly known as Buckeye Check Cashing) and Insight Card Services, LLC to help CheckSmart evade state usury and payday loan laws by making payday loans on prepaid cards. Support that the Consumer Financial Protection Bureau develop and promulgate adequate mortgage servicing rules that will cover the range of market participants, make the needed changes, last beyond individual time-limited programs, and be effectively enforceable (urge the CFPB to amend current proposed rules). Support that the Consumer Financial Protection Bureau develop and promulgate adequate mortgage servicing rules that will cover the range of market participants, make the needed changes, last beyond individual time-limited programs, and be effectively enforceable (urge the CFPB to amend current proposed rules). Support the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act of 2012 (S. 3426 / H.R. 6483), Support S 3452, Protecting Consumers from Unreasonable Credit Rates Act of 2012" Oppose the inclusion of any down payment requirement as part of the Qualified Residential Mortgage (QRM) standard. Oppose H.R. 1909, Federal Financial Services and Credit Companies Charter Act of 2011. Advocated that the United States use its stature and position to have the NAACP policy agenda included in any and all relevant United Nations' treaties and other compliance documents. Support S. 3085, The Responsible Homeowner Refinancing Act of 2012, oppose an amendment to that bill that would provide a so-called safe harbor under the Qualified Mortgage (QM) rules currently being drafted by the Consumer Financial Protection Bureau.
Client expense: $62,500 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Bureau of Indian Affairs (BIA), Centers For Disease Control & Prevention (CDC), Commerce, Dept of (DOC), Defense, Dept of (DOD), Education, Dept of, Energy, Dept of, Environmental Protection Agency (EPA), Equal Employment Opportunity Commission (EEOC), Federal Aviation Administration (FAA), Federal Bureau of Investigation (FBI), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Emergency Management Agency (FEMA), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Park Service (NPS), Office of Personnel Management (OPM), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), Social Security Administration (SSA), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Commission on Civil Rights, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), Voice of America, White House Office
2012 · fourth_quarter · Financial Institutions/Investments/Securities
Issues related to Financial Reform. Implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act; treatment of community lenders, formation of CFPB; H.R. 4014: To amend the Federal Deposit Insurance Act; S. 2099: A bill to amend the Federal Deposit Insurance Act; H.R. 1121, the Responsible Consumer Financial Protection Regulation Act of 2011; H.R. 1315, the Responsible Consumer Financial Safety and Soundness Act of 2011; H.R. 6139, Consumer Credit Access, Innovation, and Modernization Act; S. 3426, SAFE Lending Act of 2012; S. 3452, Protecting Consumers from Unreasonable Credit Rates Act of 2012.
Client expense: Not reported · Firm income: $220,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · fourth_quarter · Banking
Implementation of PL 111-203 - Dodd-Frank Act, Oversight of Consumer Credit Industry. HR 6139 - Consumer Credit Access, Innovation and Modernization Act
Client expense: Not reported · Firm income: $40,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · fourth_quarter · Banking
Issues related to legislation to provide a federal charter for nonbank lenders; H.R. 1909, H.R. 6139; Issues related to implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · fourth_quarter · Consumer Issues/Safety/Products
Issues related to legislation to provide a federal charter for nonbank lenders; H.R. 1909, H.R. 6139; Issues related to implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · fourth_quarter · Banking
Consumer Financial Protection Bureau issues: H.R.1909, FFSCC Charter Act of 2011 H.R.6139, Consumer, Credit, Access, Innovation and Modernization Act
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · fourth_quarter · Banking
Lobbying issues were: CFPB (encouraging Congress to keep in place an effective federal consumer-focused banking regulator); overdraft loans (encouraging Congress to implement restrictions on abusive overdraft practices); payday loans (encouraging Congress to prohibit abusive products and practices); the future of the GSEs and the federal housing finance system [continued on next page] [continued from previous page] mortgage lending (encouraging Congress to prohibit abusive products and practices); mortgage loan modifications (encouraging Congress to provide incentive for servicers to modify loans to prevent foreclosures) Specific legislation that was the subject of lobbying activity: S. 222 (to allow for voluntary loss mitigation program in bankruptcy) S. 299 (to oppose requirement that major rules of the executive branch would have no force or effect unless a joint resolution of approval is enacted into law). S. 489 (to require minimum mortgage servicing standards) S. 527 (to continue HAMP) S. 690 (to create an Office of the Homeowner Advocate) S. 737 (to keep current regulatory structure of CFPB) S. 824 (to require minimum mortgage servicing standards) S. 967 (to require minimum mortgage servicing standards) S. 1054 (to ensure that the bankruptcy process is fair for consumers) S. 1606 (to oppose reforms to the process by which federal agencies analyze and formulate new regulations and guidance documents) S. 1615 (to oppose enhanced economic analysis and justification of regulations proposed by certain federal financial regulators) S. Amdt. 1294 to S. 1867, the Defense Authorization Bill (to enhance consumer credit protections for service members and their families) S. 1963 (to oppose revoking the charters for the government-sponsored enterprises and creating a new Mortgage Finance Agency for the securitization of single family and multifamily mortgages, and for other purposes) S. 2072 (a bill to discourage disincentives to the housing missions of the government-sponsored enterprises and require consistent putback risks at the enterprises to assist homeowners) S. 3047 (a bill to encourage responsible homeowners to refinance mortgages, and for other purposes) S. 3085 (a bill to provide for the expansion of affordable refinancing of mortgages held by the Federal National Mortgage Assoc. and the Federal Home Loan Mortgage Corp.) S. 3254 (to provide for stronger credit protections for servicemembers and their dependent family members) S. 3426 (to amend the Truth in Lending Act to address certain issues related to the extension of consumer credit) S. 3452 (to amend the Truth in Lending Act to establish a national usury rate for consumer credit transactions). S. 3468 (to oppose affirming the authority of the president to require independent regulatory agencies to comply with regulatory analysis applicable to executive agencies) S. 3522 (to provide for the expansion of affordable refinancing of mortgages held by FNMA and FHLMC ) [continued from previous page] S. 3571 (to oppose requiring the Bureau of Consumer Financial Protection to conduct a small business review panel on the qualified mortgage rule before the Bureau can go forward with a final rule) S. 4041 (to amend the Electronic Fund Transfer Act to provide protection for consumers who have prepaid cards, and other purposes) H.R. 10 (to oppose requirement that major rules of the executive branch would have no force or effect unless a joint resolution of approval is enacted into law). H.R. 31 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 527 (to oppose a complete analysis of potential impacts on small entities of rules, and for other purposes). H.R. 830 (to continue to FHA short refinance program) H.R. 836 (to continue the Emergency Homeowner Relief Program) H.R. 839 (to continue HAMP) H.R. 861 (to continue NSP) H.R. 1121 (to keep current regulatory structure of CFPB) H.R. 1221 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R 1222 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 1223 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 1224 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 1225 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 1226 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 1227 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 1315 (to keep current FSOC veto authority structure in CFPB) H.R. 1355 (to maintain the current CFPB regulatory structure and funding system) H.R. 1477 (to require minimum mortgage servicing standards) H.R. 1567 (to require minimum mortgage servicing standards) H.R. 1677 (to keep the current CFPB transfer date in place) H.R. 1697 (to oppose amendments to the Consumer Financial Protection Act of 2010) H.R. 1783 (to require minimum mortgage servicing standards) H.R. 1909 (to oppose the federal chartering of Federal Financial Servicing and Credit Companies) H.R. 2081 (to keep the current CFPB regulatory structure) H.R. 3010 (to oppose reforms to the process by which federal agencies analyze and formulate new regulations and guidance documents) H.R. 3077 (to ensure customers have the right to close depository account without unreasonable cost or other barriers) H.R. 3461 (to oppose purported improvements to the examination of depository institutions, and for other purposes) H.R. 3644 (to oppose purported standardization and transparency in the mortgage backed security system) H.R. 3648 (to support amending the Internal Revenue Code of 1986 to exclude discharges of indebtness on principal residences from gross income, and for other purposes) H.R. 4101 (to oppose amending the Fair Debt Collection Practices Act to exempt a debt collector from liability when leaving certain voice messages for a consumer with respect to a debt as long as the debt collector follows regulations prescribed by the Bureau of Consumer Financial Protection on the appropriate manner in which to leave such a message, and for other purposes) H.R. 4310 (to support amending the Military Lending Act to provide additional enhancements of protections on consumer credit for members of the armed forces and their dependents) [continued from previous page] H.R. 4323 (to oppose amending the Truth in Lending Act to improve upon the definitions provided for points and fees in connection with a mortgage transaction) H.R. 5691 (to amend the Truth in Lending Act to establish fair and transparent practices related to the marketing and provision of overdraft coverage programs at depository institutions). H.R. 6139 (to oppose federal chartering of national consumer credit corporations) BILLS UNDER DISCUSSION/NOT YET INTRODUCED Senate legislation on government sponsored enterprises (to ensure that there is a secondary market to serve low- and moderate-income communities) Senate legislation on checking account overdraft practices (to require fair practices related to overdraft fees) Senate legislation to address abusive payday lending practices Senate legislation to provide for a safe harbor legal liability standard for qualified mortgages House legislation on debit cards (to ensure there are fair consumer protections for debit card users) Executive branch agencies and issues: Consumer Financial Protection Bureau overdraft fees, bank payday loans, payday loans, mortgage servicing, larger nonbank participants, credit cards, prepaid cards, auto lending, rules to be enforced, lending issues as related to military, interim legal authorities, Alternative Mortgage Transaction Parity Act (AMTPA), mortgage origination rules, depository supervision, qualified mortgage Dept of the Treasury--Office of the Comptroller of the Currency overdraft fees, bank payday loans, preemption, risk retention rules, servicing standards, servicing consent order/independent foreclosure review, mortgage origination rules, payday lendings impact on Community Reinvestment Act evaluations Dept of the Treasury HAMP, GSE reform, risk retention rules, mortgage origination rules Federal Reserve Board overdraft fees, bank payday loans, mortgage origination rules, risk retention rules, servicing standards, credit card rules, interchange revenue, Dodd-Frank implementation, servicing consent order/independent foreclosure review FDIC -- overdraft fees, risk retention rules, servicing standards, bank payday loans, prepaid cards National Credit Union Administration -- regulation of credit union service organizations, payday lending, payday alternative loans Federal Trade Commission -- auto financing HUD -- GSE reform, risk retention rules, mortgage origination rules White House -- foreclosure prevention, risk retention rules, mortgage refinance Federal Housing Finance Administration -- foreclosure prevention, servicing standards
Client expense: $105,000 · Firm income: Not reported
Government targets: Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Natl Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), SENATE, Treasury, Dept of, White House Office
2012 · fourth_quarter · Banking
passage of H.R. 6139; and issues related to small dollar single payment and installment loan and pawn issues.
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · fourth_quarter · Financial Institutions/Investments/Securities
passage of H.R. 6139; and issues related to payday loan and pawn issues
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · fourth_quarter · Financial Institutions/Investments/Securities
H.R. 6139; support passage to provide for federal lending charter for qualified nondepository financial institutions
Client expense: Not reported · Firm income: $20,000
Government targets: HOUSE OF REPRESENTATIVES
2012 · fourth_quarter · Banking
Mortgage reform implementation of Dodd Frank Act and Qualified Residential Mortgage Requirements. Monitor legislation to modify the CFPB; monitor legislation, HR 6139, to direct the Comptroller of the Currency to charter qualified nondepository creditors known as National Consumer Credit Corporations to offer financial products or services; and, monitor the Mortage Debt Relief Act.
Client expense: Not reported · Firm income: $15,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · fourth_quarter · Banking
HR 1909 HR 6139
Client expense: Not reported · Firm income: $20,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · third_quarter · Financial Institutions/Investments/Securities
Issues related to Financial Reform. Implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act; treatment of community lenders, formation of CFPB; H.R. 4014: To amend the Federal Deposit Insurance Act; S. 2099: A bill to amend the Federal Deposit Insurance Act; H.R. 1121, the Responsible Consumer Financial Protection Regulation Act of 2011; H.R. 1315, the Responsible Consumer Financial Safety and Soundness Act of 2011; H.R. 6139, Consumer Credit Access, Innovation, and Modernization Act; S. 3426, SAFE Lending Act of 2012; S. 3452, Protecting Consumers from Unreasonable Credit Rates Act of 2012.
Client expense: Not reported · Firm income: $210,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · third_quarter · Financial Institutions/Investments/Securities
Issues related to the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act; H.R.1909, FFSCC Charter Act of 2011 (To create a charter for Federal Financial Services and Credit Companies); Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) regulations; short-term credit issues related to H.R.6139, To create a Federal charter for National Consumer Credit Corporations, and for other purposes.
Client expense: $180,000 · Firm income: Not reported
Government targets: Federal Deposit Insurance Corporation (FDIC), HOUSE OF REPRESENTATIVES, Office of the Comptroller of the Currency (OCC), SENATE, Treasury, Dept of
2012 · third_quarter · Consumer Issues/Safety/Products
Issues related to legislation to provide a federal charter for nonbank lenders; H.R. 1909, H.R. 6139; Issues related to implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · third_quarter · Banking
Issues related to legislation to provide a federal charter for nonbank lenders; H.R. 1909, H.R. 6139; Issues related to implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · third_quarter · Banking
HR 940 United States Covered Bonds Act of 2011 HR 1315 The Consumer Financial Protection Safety and Soundness Improvement Act HR 1356 Capital Access for Main Street Act of 2011 HR 1418 Small Business Lending Enhancement Act of 2011 HR 1697 Communities First Act HR 1840 Improve Consideration by CFTC of Costs and Benefits of Regulations and Orders HR 1965 The SEC Shareholder Registration Act HR 2167 The Private Company Flexibility and Growth Act HR 2308 SEC Regulatory Accountability Act HR 2827 Municipal Adviser SEC Reform HR 3461 Financial Instititions Examination Fairness and Reform Act HR 3606 Jumpstart Our Business Startups (Jobs) Act HR 4014 Confidentiality of Information Provided to the CFPB HR 4078 Red Tape Reduction and Small Business Job Creation Act HR 4293 Restore Main Street's Credit Act of 2012 HR 4348 Flood Insurance/ Student Loans HR 4367 Amend the Electronic Fund Transfer Act (to limit ATM fee disclosure requirements) HR 5691 Overdraft Act of 2012 HR 6139 Consumer Credit Access, Innovation and Modernization Act S 509 Small Business Lending Enhancement Act Credit Union MBL Expansion S 1548 National Flood Insurance Program Extension Act S 1600 Communities First Act S 2160 Bank Exam Reform S 2231 Small Business Lending Enhancement Act Credit Union MBL Expansion S 2237 Small Business Jobs and Tax Relief Act S 2278 Certain Escrow Exemptions for Community Bankers S 3204 ATM Fee Disclosure Requirements S 3394 ATM Fee Disclosure Act and CFPB Privilege S 3492, S 3620 To provide for exemptions from municipal advisor requirements Bank Examinations Capital Requirements/Regulations/Basel III Rules Consumer Data Security Consumer Financial Protection Bureau Consumer Protection for Financial Products and Services Credit Card/ Debit Card Interchange Fees Debit Interchange Fees Credit Union Business Lending Powers Credit Union Tax Exemption Fair Lending Enforcement FDIC Transaction Account Guarantee Program Extention FHA Loan Programs Financial Regulatory Reform Homeownership and Equity Protection Act Housing Finance Reform Housing Government Sponsored Enterprises Implementation of Basel III in the U.S. Implementation of Dodd-Frank Wall Street Reform and Consumer Protection Act Mortgage Lending Disclosures (RESPA/TILA) Mortgage Lending Reform Mortgage Loan Origination Standards Mortgage Servicing Compensation National Flood Insurance Program Reauthorization Overdraft Payment Services Patents - American Invents Act Qualified Mortgages/ Ability to Repay Qualified Residential Mortgages/Risk Retention Registration of Municipal Advisors Regulation Z Establishment of ESCROW - Higher Priced Loans Regulatory and Tax Relief for Community Banks Remittance Transfer Rules Sarbnes-Oxley Internal Control Attestation SEC Shareholder Registration Threshold for Community Banks Small Business Lending Fund Implementation Social Security Direct Deposit Systemic Risk, Too-Big-To-Fail Regulation and Resolution Authority
Client expense: $890,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, White House Office
2012 · third_quarter · Banking
Implementation of PL 111-203 - Dodd-Frank Act, Oversight of Consumer Credit Industry. HR 6139 - Consumer Credit Access, Innovation and Modernization Act
Client expense: Not reported · Firm income: $40,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · third_quarter · Financial Institutions/Investments/Securities
Support legislation to create a federal lending charter for qualified non-depository lenders; H.R. 1909; H.R. 6139
Client expense: Not reported · Firm income: $100,000
Government targets: HOUSE OF REPRESENTATIVES
2012 · third_quarter · Financial Institutions/Investments/Securities
All legislation related to privacy, data security, consumer lending regulation and consumer lending policy H.R. 1909, FFSCC Charter Act of 201; H.R. 6139, Consumer Credit Access, Innovation, and Modernization Act H.R. 4014, a bill to amend the FDIA with respect to information provided to the Bureau of Consumer Financial Protection S. 2099, a bill to amend the FDIA with respect to information provided to the Bureau of Consumer Financial Protection
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · third_quarter · Banking
Lobbying issues were: CFPB (encouraging Congress to keep in place an effective federal consumer-focused banking regulator); overdraft loans (encouraging Congress to implement restrictions on abusive overdraft practices); payday loans (encouraging Congress to prohibit abusive products and practices); the future of the GSEs and the federal housing finance system [continued on next page] [continued from previous page] mortgage lending (encouraging Congress to prohibit abusive products and practices); mortgage loan modifications (encouraging Congress to provide incentive for servicers to modify loans to prevent foreclosures) Specific legislation that was the subject of lobbying activity: S. 222 (to allow for voluntary loss mitigation program in bankruptcy) S. 299 (to oppose requirement that major rules of the executive branch would have no force or effect unless a joint resolution of approval is enacted into law). S. 489 (to require minimum mortgage servicing standards) S. 527 (to continue HAMP) S. 690 (to create an Office of the Homeowner Advocate) S. 737 (to keep current regulatory structure of CFPB) S. 824 (to require minimum mortgage servicing standards) S. 967 (to require minimum mortgage servicing standards) S. 1054 (to ensure that the bankruptcy process is fair for consumers) S. 1606 (to oppose reforms to the process by which federal agencies analyze and formulate new regulations and guidance documents) S. 1615 (to oppose enhanced economic analysis and justification of regulations proposed by certain federal financial regulators) S. Amdt. 1294 to S. 1867, the Defense Authorization Bill (to enhance consumer credit protections for service members and their families) S. 1963 (to oppose revoking the charters for the government-sponsored enterprises and creating a new Mortgage Finance Agency for the securitization of single family and multifamily mortgages, and for other purposes) S. 2072 (a bill to discourage disincentives to the housing missions of the government-sponsored enterprises and require consistent putback risks at the enterprises to assist homeowners) S. 3047 (a bill to encourage responsible homeowners to refinance mortgages, and for other purposes) S. 3085 (a bill to provide for the expansion of affordable refinancing of mortgages held by the Federal National Mortgage Assoc. and the Federal Home Loan Mortgage Corp.) S. 3254 (to provide for stronger credit protections for servicemembers and their dependent family members) S. 3426 (to amend the Truth in Lending Act to address certain issues related to the extension of consumer credit) S. 3452 (to amend the Truth in Lending Act to establish a national usury rate for consumer credit transactions). S. 3468 (to oppose affirming the authority of the president to require independent regulatory agencies to comply with regulatory analysis applicable to executive agencies) S. 3522 (to provide for the expansion of affordable refinancing of mortgages held by FNMA and FHLMC ) [continued from previous page] S. 3571 (to oppose requiring the Bureau of Consumer Financial Protection to conduct a small business review panel on the qualified mortgage rule before the Bureau can go forward with a final rule) S. 4041 (to amend the Electronic Fund Transfer Act to provide protection for consumers who have prepaid cards, and other purposes) H.R. 10 (to oppose requirement that major rules of the executive branch would have no force or effect unless a joint resolution of approval is enacted into law). H.R. 31 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 527 (to oppose a complete analysis of potential impacts on small entities of rules, and for other purposes). H.R. 830 (to continue to FHA short refinance program) H.R. 836 (to continue the Emergency Homeowner Relief Program) H.R. 839 (to continue HAMP) H.R. 861 (to continue NSP) H.R. 1121 (to keep current regulatory structure of CFPB) H.R. 1221 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R 1222 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 1223 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 1224 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 1225 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 1226 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 1227 (to ensure that there is a secondary market to serve low- and moderate-income communities) H.R. 1315 (to keep current FSOC veto authority structure in CFPB) H.R. 1355 (to maintain the current CFPB regulatory structure and funding system) H.R. 1477 (to require minimum mortgage servicing standards) H.R. 1567 (to require minimum mortgage servicing standards) H.R. 1677 (to keep the current CFPB transfer date in place) H.R. 1697 (to oppose amendments to the Consumer Financial Protection Act of 2010) H.R. 1783 (to require minimum mortgage servicing standards) H.R. 1909 (to oppose the federal chartering of Federal Financial Servicing and Credit Companies) H.R. 2081 (to keep the current CFPB regulatory structure) H.R. 3010 (to oppose reforms to the process by which federal agencies analyze and formulate new regulations and guidance documents) H.R. 3077 (to ensure customers have the right to close depository account without unreasonable cost or other barriers) H.R. 3461 (to oppose purported improvements to the examination of depository institutions, and for other purposes) H.R. 3644 (to oppose purported standardization and transparency in the mortgage backed security system) H.R. 4101 (to oppose amending the Fair Debt Collection Practices Act to exempt a debt collector from liability when leaving certain voice messages for a consumer with respect to a debt as long as the debt collector follows regulations prescribed by the Bureau of Consumer Financial Protection on the appropriate manner in which to leave such a message, and for other purposes) H.R. 4323 (to oppose amending the Truth in Lending Act to improve upon the definitions provided for points and fees in connection with a mortgage transaction) H.R. 5691 (to amend the Truth in Lending Act to establish fair and transparent practices related to the marketing and provision of overdraft coverage programs at depository institutions). H.R. 6139 (to oppose federal chartering of national consumer credit corporations) [continued from previous page] BILLS UNDER DISCUSSION/NOT YET INTRODUCED Senate legislation on government sponsored enterprises (to ensure that there is a secondary market to serve low- and moderate-income communities) Senate legislation on checking account overdraft practices (to require fair practices related to overdraft fees) Senate legislation to address abusive payday lending practices House legislation on debit cards (to ensure there are fair consumer protections for debit card users) Executive branch agencies and issues: Consumer Financial Protection Bureau overdraft fees, bank payday loans, payday loans, mortgage servicing, larger nonbank participants, credit cards, prepaid cards, auto lending, rules to be enforced, lending issues as related to military, interim legal authorities, Alternative Mortgage Transaction Parity Act (AMTPA), mortgage origination rules, depository supervision, qualified mortgage Dept of the Treasury--Office of the Comptroller of the Currency overdraft fees, bank payday loans, preemption, risk retention rules, servicing standards, servicing consent order/independent foreclosure review, mortgage origination rules Dept of the Treasury HAMP, GSE reform, risk retention rules, mortgage origination rules Federal Reserve Board overdraft fees, bank payday loans, mortgage origination rules, risk retention rules, servicing standards, credit card rules, interchange revenue, Dodd-Frank implementation, servicing consent order/independent foreclosure review FDIC -- overdraft fees, risk retention rules, servicing standards, bank payday loans, prepaid cards National Credit Union Administration -- regulation of credit union service organizations, payday lending Federal Trade Commission -- auto financing HUD -- GSE reform, risk retention rules, mortgage origination rules White House -- foreclosure prevention, risk retention rules, mortgage refinance Federal Housing Finance Administration -- foreclosure prevention, servicing standards
Client expense: $100,000 · Firm income: Not reported
Government targets: Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Natl Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), SENATE, Treasury, Dept of, White House Office
2012 · third_quarter · Banking
Mortgage reform implementation of Dodd Frank Act and Qualified Residential Mortgage Requirements. Monitor legislation to modify the CFPB; monitor legislation, HR 6139, to direct the Comptroller of the Currency to charter qualified nondepository creditors known as National Consumer Credit Corporations to offer financial products or services.
Client expense: Not reported · Firm income: $15,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · third_quarter · Banking
HR 1909 HR 6139
Client expense: Not reported · Firm income: $20,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · third_quarter · Banking
Eliminate predatory lending; ensure equal access to financial services to all Americans. Eliminate disparities in credit reporting. Ease home mortgage foreclosure crisis. Eliminate pay day lending. Support capping all interest rates at 36% APR. Support a strong, responsive Consumer Financial Protection Bureau. Reform the mortgage servicers industry so that more loans are modified and fewer homes are foreclosed upon. Try to stop abusive credit card practices. Support allowing bankruptcy judges to require loan modifications on primary residence mortgages. Oppose exploitative payday lending. Support efforts to eliminate predatory lending. Support reauthorization, modernization and expansion of the Community Reinvestment Act (CRA). oppose the elimination of funding for HUD's housing counseling programs. Support financial literacy programs. Support a ban on the use of credit reports by potential employers. Support Dr. Elizabeth Warren to be the first Director of the Consumer Financial Protection Bureau. Oppose H.R. 839, terminating the HAMP program; oppose H.R. 861, terminating HUD's Neighborhood Stabilization Program; oppose H.R. 836, terminating HUD's emergency Mortgage Relief program; oppose H.R. 830, terminating the FHA Refinance Program. Support a strong Consumer Financial Protection Bureau, which begins its activities as soon as possible. Oppose H.R. 1121; oppose H.R. 1315; oppose legislation intended to delay regulatory authority of the CFPB until a Director is confirmed; oppose legislation removing the prudential regulators ability to allow the CFPB to participate in examinations of large financial institutions before the designated transfer date. Support pro-consumer changes to the GSEs (Fannie Mae and Freddie Mac). Oppose a piecemeal approach to reforming Fannie Mae and Freddie Mac ("the GSEs"). Support a comprehensive approach to housing finance reform that will further the federal governments housing policy objectives of promoting residential integration, eliminating housing discrimination, and providing safe, decent, and affordable housing for all. Oppose delaying regulations limiting fees charged to merchants by issuers of debit cards. Support a flexible and inclusive definition of "larger participants" by the Consumer Financial Protection Bureau (participated in a CFPB roundtable discussion on the issue). Express grave concerns about the promulgation of the Dodd-Frank Credit Score disclosure requirement. Oppose potential employers reviewing a potential employee's credit report or credit score prior to making a hiring decision. Support HR 321 Support strong action by the Consumer Financial Protection Bureau in protecting consumers from abusive checking account policies. Support allowing consumers to transfer banking accounts to a different institution with little or no monetary repercussion. Support HR 3077. Support Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB). Support significantly strengthening the Office of the Comptroller of the Currencys (OCC) proposed guidance on overdraft programs and deposit advance products in such a way that all customers receive the lowest cost credit for which they qualify, and national banks are encouraged to offer responsible overdraft and credit products. Support a study of the regulation of interchange fees but oppose a delay in the implementation of the Durbin amendment to Dodd-Frank. Support H.R. 2086 / S. 2149, the Medical Debt Responsibility Act, which requirees that credit agencies to remove FULLY paid or settled medical debt from credit reports within 45 days. Support a strong settlement to the legal actions under discussion, and one that leaves open the path for further needed actions to hold lawbreakers accountable in the matter of the states Attorneys General and the Federal Government versus various financial institutions for breaking the law in terms of mortgages. Supported the Consumer Financial Protection Bureau (CFPB) take strong steps to stop checking account abuses. Specifically, we asked that the CFPB: Require information on important checking account terms to be disclosed in a one-page Consumer Choice Box; Require complete disclosure of all overdraft options; Require reasonable and proportional overdraft fees; Require the posting of deposits and withdrawals in a neutral manner; and Examine the prevalence of dispute resolution clauses in checking account agreements and the existence of fee shifting provisions that require the account holder to pay at least a portion of the banks costs when a dispute occurs. Support a two-month extension of the comment period to allow the Federal Reserve Board to hold a formal hearing and public meetings in at least five cities about Capital Ones proposed acquisition of Bank Nevada, N.A. Oppose H.R. 3035, the Mobile Informational Call Act of 2011, Support the CFPB adopting a definition of the Qualified Mortgage that covers the vast majority of the marketplace, so that most mortgage borrowers have the benefit of the strongest protections. Oppose any narrowing of the definitions of consumer or credit that are subject to Equal Credit Opportunity Act to match the narrower definitions in the Truth in Lending Act (TILA) or other statutes. (We also oppose narrowing the coverage of TILA or the Real Estate Settlement Procedures Act.) Oppose expanding exemptions to the data reporting requirements of Regulation C under the Home Mortgage Disclosure Act (HMDA). The CFPB should not weaken the rule that credit card issuers must consider the consumers independent ability to pay and cannot, as a general matter, rely solely on household income. Support Helping Homeowners Refinance Act of 2012, S. 2072 Support federal regulators of our nations banks to take immediate action to stop banks from making unaffordable, high-cost payday loans. Support inclusion of consumer narratives be in the CFPB's credit card complaint database. Support the settlement betwqeen the States' Attorneys Generals and several financial institutions regarding robosigning and foreclosures. Support the settlement between U.S. Department of Justice and Bank of America over Countrywide's discriminatory mortgage lending practices. Support Leon Russell to serve on the CFPB Advisory Panel. Supported access to idividual complaints, as well as data collection as to who is making the complaints, to the CFPB (while puting key protections in place to ensure individual privacy). Oppose the Red Tape Reduction and Small Business Job Creation Act" (H.R. 4078), which includes the Regulatory Freeze For Jobs Act, the Midnight Rule Relief Act of 2012" (H.R. 4607), and the Sunshine for Regulatory Decrees and Settlements Act of 2012 (H.R. 3862), among other harmful bills. Support the prohibition of overdraft fees and credit on Prepaid Cards (letter to the CFPB). Oppose H.R. 6139, the National Consumer Credit Corporation Charter and Consumer Access Innovation Act of 2012, and any similar legislation that may be introduced. Oppose all proposals to weaken the structure, powers or funding of the Consumer Financial Protection Bureau, including the proposal which would eliminate the Consumer Financial Protection Bureaus (CFPB) independence by making it the only bank regulatory agency placed under the appropriations process. Oppose Urban Trust Bank from partnering with the payday lender CheckSmart (formerly known as Buckeye Check Cashing) and Insight Card Services, LLC to help CheckSmart evade state usury and payday loan laws by making payday loans on prepaid cards. Support that the Consumer Financial Protection Bureau develop and promulgate adequate mortgage servicing rules that will cover the range of market participants, make the needed changes, last beyond individual time-limited programs, and be effectively enforceable (urge the CFPB to amend current proposed rules). Support that the Consumer Financial Protection Bureau develop and promulgate adequate mortgage servicing rules that will cover the range of market participants, make the needed changes, last beyond individual time-limited programs, and be effectively enforceable (urge the CFPB to amend current proposed rules). Support the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act of 2012 (S. 3426 / H.R. 6483), which requires all on-line small-dollar lenders (such as payday lenders) to comply with state law if it provides better consumer protections than federal law; prevents national banks and federal savings and loans from making payday loans in violation of the state law where the consumer resides; provides new federal enforcement measures to protect consumers from online payday lenders that seek to evade state consumer protection laws, such as by locating their businesses off-shore, or affiliating with a Native American Tribe and claiming the right to assert the tribes sovereign immunity; empowers Tribes to enlist the help of the CFPB where needed to protect their members from abusive payday lending on the reservation, and respecting tribal laws that provide stronger consumer protections than are available under state law; closes the single payment loophole in the Electronic Fund Transfer Act and extending consumer control over electronic payment of credit to all loans; safeguards consumer data by banning lead generators who traffic in payday loan application information via marketing websites, and prohibiting them from anonymously collecting sensitive consumer data; and stops lenders from using borrowers bank account details to create unsigned checks used to withdraw funds, even when consumers have exercised their federal rights against compulsory electronic payment of credit under the Electronic Fund Transfer Act. Support S. 3452 to impose a federal usury cap on credit while permitting states to set lower rates. Oppose the inclusion of any down payment requirement as part of the Qualified Residential Mortgage (QRM) standard. Oppose H.R. 1909, Federal Financial Services and Credit Companies Charter Act of 2011. Advocated that the United States use its stature and position to have the NAACP policy agenda included in any and all relevant United Nations' treaties and other compliance documents.
Client expense: $62,500 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Bureau of Indian Affairs (BIA), Centers For Disease Control & Prevention (CDC), Commerce, Dept of (DOC), Defense, Dept of (DOD), Education, Dept of, Environmental Protection Agency (EPA), Equal Employment Opportunity Commission (EEOC), Federal Aviation Administration (FAA), Federal Bureau of Investigation (FBI), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Emergency Management Agency (FEMA), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Park Service (NPS), Office of Personnel Management (OPM), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), Social Security Administration (SSA), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Commission on Civil Rights, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), Voice of America, White House Office
2012 · third_quarter · Financial Institutions/Investments/Securities
Eliminate predatory lending; ensure equal access to financial services to all Americans. Eliminate disparities in credit reporting. Ease home mortgage foreclosure crisis. Eliminate pay day lending. Support capping all interest rates at 36% APR. Support a strong, responsive Consumer Financial Protection Bureau. Oppose "vulture funds". Support debt relief for poor nations, a.k.a. the Jubilee Act. Reform the mortgage servicers industry so that more loans are modified and fewer homes are foreclosed upon. Support reauthorization, modernization and expansion of the Community Reinvestment Act (CRA),. Support efforts to eliminate predatory loans. Oppose exploitative payday loans; Support 36% interest rate cap; . Oppose federal preemption of state consumer financial protection laws. Reform the mortgage servicers industry so that more loans are modified and fewer homes are foreclosed upon. Try to stop abusive credit card practices. Support allowing bankruptcy judges to require loan modifications on primary residence mortgages. Oppose exploitative payday lending. Support efforts to eliminate predatory lending. Support reauthorization, modernization and expansion of the Community Reinvestment Act (CRA). oppose the elimination of funding for HUD's housing counseling programs. Support financial literacy programs. Support a ban on the use of credit reports by potential employers. Support Dr. Elizabeth Warren to be the first Director of the Consumer Financial Protection Bureau. Oppose H.R. 839, terminating the HAMP program; oppose H.R. 861, terminating HUD's Neighborhood Stabilization Program; oppose H.R. 836, terminating HUD's emergency Mortgage Relief program; oppose H.R. 830, terminating the FHA Refinance Program. Support a strong Consumer Financial Protection Bureau, which begins its activities as soon as possible. Oppose H.R. 1121; oppose H.R. 1315; oppose legislation intended to delay regulatory authority of the CFPB until a Director is confirmed; oppose legislation removing the prudential regulators ability to allow the CFPB to participate in examinations of large financial institutions before the designated transfer date. Support pro-consumer changes to the GSEs (Fannie Mae and Freddie Mac). Oppose a piecemeal approach to reforming Fannie Mae and Freddie Mac ("the GSEs"). Support a comprehensive approach to housing finance reform that will further the federal governments housing policy objectives of promoting residential integration, eliminating housing discrimination, and providing safe, decent, and affordable housing for all. Express grave concerns about proposed rules for risk-based pricing rule. Strengthening the proposed rule for holding servicers accountable for illegal deeds. Oppose delaying regulations limiting fees charged to merchants by issuers of debit cards. Support a flexible and inclusive definition of "larger participants" by the Consumer Financial Protection Bureau (participated in a CFPB roundtable discussion on the issue). Express grave concerns about the promulgation of the Dodd-Frank Credit Score disclosure requirement. Support keeping responsible and affordable mortgage credit flowing to all neighborhoods and to all qualified borrowers, stopping wrongful foreclosures, and support the development of affordable rental homes close to good schools and quality jobs Support a more thorough investigation into the Capital One /ING merger. Support extending the public comment period on the merger as well as five public hearings around the country. Oppose potential employers reviewing a potential employees credit report / credit score prior to making any hiring decision. Support HR 321. Support sensible, non-exploitative mortgage lending. Adopt a qualified mortgage standard that will not shut out prospective minority homeowners. Support Richard Cordray to be Director of the Consumer Financial Protection Bureau. Contact the Federal Housing Finance Agency (and others) in support of risk retention as defined in the Dodd-Frank bill but opposed to a high downpayment to qualify for a Qualified Residential Mortgage (QRM). Contact the FHFA in support of a more robust federal response to the foreclosure crisis, including banning the two track system whereby homeowners facing foreclosure who are trying to modify their loan also find their foreclosure proceeding moving ahead. Outlaw Robosigning and remedy homeowners adversely affected by the practice, in which many servicers did not even read the foreclosure documents they were signing. Principal reductions should be provided in both the federal governments home loan modification programs and each financial institutions private loan modification programs. They should include heightened loss-mitigation standards. Finally, they should also include a forbearance program to help unemployed homeowners. Support strong action by the Consumer Financial Protection Bureau in protecting consumers from abusive checking account policies. Support allowing consumers to transfer banking accounts to a different institution with little or no monetary repercussion. Support HR 3077. Support Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB). Support significantly strengthening the Office of the Comptroller of the Currencys (OCC) proposed guidance on overdraft programs and deposit advance products in such a way that all customers receive the lowest cost credit for which they qualify, and national banks are encouraged to offer responsible overdraft and credit products. Support the Reed (RI) amendment to S. 1867 which closed a loophole allowing payday lenders to charge members of the military more than 36% for short-term loans. Supported the Consumer Financial Protection Bureau (CFPB) take strong steps to stop checking account abuses. Specifically, we asked that the CFPB: Require information on important checking account terms to be disclosed in a one-page Consumer Choice Box; Require complete disclosure of all overdraft options; Require reasonable and proportional overdraft fees; Require the posting of deposits and withdrawals in a neutral manner; and Examine the prevalence of dispute resolution clauses in checking account agreements and the existence of fee shifting provisions that require the accountholder to pay at least a portion of the banks costs when a dispute occurs. Support a two-month extension of the comment period to allow the Federal Reserve Board to hold a formal hearing and public meetings in at least five cities about Capital Ones proposed acquisition of Bank Nevada, N.A. Oppose H.R. 3035, the Mobile Informational Call Act of 2011. Support a study of the regulation of interchange fees but oppose a delay in the implementation of the Durbin amendment to Dodd-Frank. Urge the Consumver Financial Protection Bureau (CFPB) to define "larger participants" among dect collecters and consumer reporting agencies broadly, yet in a manner that does not allow companies to evade review. Also encouraged the CFPB to examine all of an entities' consumer financial products and services. Support H.R. 2086 / S. 2149, the Medical Debt Responsibility Act, which requirees that credit agencies to remove FULLY paid or settled medical debt from credit reports within 45 days. Support the CFPB adopting a definition of the Qualified Mortgage that covers the vast majority of the marketplace, so that most mortgage borrowers have the benefit of the strongest protections. Oppose any narrowing of the definitions of consumer or credit that are subject to Equal Credit Opportunity Act to match the narrower definitions in the Truth in Lending Act (TILA) or other statutes. (We also oppose narrowing the coverage of TILA or the Real Estate Settlement Procedures Act.). Oppose expanding exemptions to the data reporting requirements of Regulation C under the Home Mortgage Disclosure Act (HMDA). The CFPB should not weaken the rule that credit card issuers must consider the consumers independent ability to pay and cannot, as a general matter, rely solely on household income. Support Helping Homeowners Refinance Act of 2012, S. 2072 Support federal regulators of our nations banks to take immediate action to stop banks from making unaffordable, high-cost payday loans. Support inclusion of consumer narratives be in the CFPB's credit card complaint database. Support the settlement betwqeen the States' Attorneys Generals and several financial institutions regarding robosigning and foreclosures. Support the settlement between U.S. Department of Justice and Bank of America over Countrywide's discriminatory mortgage lending practices. Support Leon Russell to serve on the CFPB Advisory Panel. Oppose the Red Tape Reduction and Small Business Job Creation Act" (H.R. 4078), which includes the Regulatory Freeze For Jobs Act, the Midnight Rule Relief Act of 2012" (H.R. 4607), and the Sunshine for Regulatory Decrees and Settlements Act of 2012 (H.R. 3862), among other harmful bills. Support the prohibition of overdraft fees and credit on Prepaid Cards (letter to the CFPB). Oppose H.R. 6139, the National Consumer Credit Corporation Charter and Consumer Access Innovation Act of 2012, and any similar legislation that may be introduced. Oppose all proposals to weaken the structure, powers or funding of the Consumer Financial Protection Bureau, including the proposal which would eliminate the Consumer Financial Protection Bureaus (CFPB) independence by making it the only bank regulatory agency placed under the appropriations process. Oppose Urban Trust Bank from partnering with the payday lender CheckSmart (formerly known as Buckeye Check Cashing) and Insight Card Services, LLC to help CheckSmart evade state usury and payday loan laws by making payday loans on prepaid cards. As the CFPB defines the entities that will be subject to examination in this and future rulemakings, it should define larger broadly, prevent evasions by including counting the revenues of affiliated companies and also firms that act as agents or are under contract to another firm, and examine all of an entitys consumer financial products and services even if it is a larger participant in just one market. Strongly support H.R. 2086 and S. 2149, the Medical Debt Responsibility Act Support extending mortgage protections under the Servicemember Civil Reflieef Act. Support the Cummings (MD) amendment to HR 4310. Support that the Consumer Financial Protection Bureau develop and promulgate adequate mortgage servicing rules that will cover the range of market participants, make the needed changes, last beyond individual time-limited programs, and be effectively enforceable (urge the CFPB to amend current proposed rules). Support the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act of 2012 (S. 3426 / H.R. 6483), which requires all on-line small-dollar lenders (such as payday lenders) to comply with state law if it provides better consumer protections than federal law; prevents national banks and federal savings and loans from making payday loans in violation of the state law where the consumer resides; provides new federal enforcement measures to protect consumers from online payday lenders that seek to evade state consumer protection laws, such as by locating their businesses off-shore, or affiliating with a Native American Tribe and claiming the right to assert the tribes sovereign immunity; empowers Tribes to enlist the help of the CFPB where needed to protect their members from abusive payday lending on the reservation, and respecting tribal laws that provide stronger consumer protections than are available under state law; closes the single payment loophole in the Electronic Fund Transfer Act and extending consumer control over electronic payment of credit to all loans; safeguards consumer data by banning lead generators who traffic in payday loan application information via marketing websites, and prohibiting them from anonymously collecting sensitive consumer data; and stops lenders from using borrowers bank account details to create unsigned checks used to withdraw funds, even when consumers have exercised their federal rights against compulsory electronic payment of credit under the Electronic Fund Transfer Act. Support S. 3452 to impose a federal usury cap on credit while permitting states to set lower rates. Oppose the inclusion of any down payment requirement as part of the Qualified Residential Mortgage (QRM) standard. Oppose H.R. 1909, Federal Financial Services and Credit Companies Charter Act of 2011. Support a prohibition on overdraft fees and any form of credit on pre-paid credit cards. Advocated that the United States use its stature and position to have the NAACP policy agenda included in any and all relevant United Nations' treaties and other compliance documents. Support the inclusion of a public database as an integral part of the CFPB complaint process
Client expense: $62,500 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Bureau of Indian Affairs (BIA), Centers For Disease Control & Prevention (CDC), Commerce, Dept of (DOC), Defense, Dept of (DOD), Education, Dept of, Environmental Protection Agency (EPA), Equal Employment Opportunity Commission (EEOC), Federal Aviation Administration (FAA), Federal Bureau of Investigation (FBI), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Emergency Management Agency (FEMA), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Park Service (NPS), Office of Personnel Management (OPM), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), Social Security Administration (SSA), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Commission on Civil Rights, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), Voice of America, White House Office
2012 · third_quarter · Financial Institutions/Investments/Securities
Issues related to the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act; H.R.1909, FFSCC Charter Act of 2011 (To create a charter for Federal Financial Services and Credit Companies); Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) regulations; short-term credit issues related to H.R.6139, To create a Federal charter for National Consumer Credit Corporations, and for other purposes.
Client expense: $200,000 · Firm income: Not reported
Government targets: Federal Deposit Insurance Corporation (FDIC), HOUSE OF REPRESENTATIVES, Office of the Comptroller of the Currency (OCC), SENATE, Treasury, Dept of
2012 · third_quarter · Financial Institutions/Investments/Securities
S.881, Consumer Rental-Purchase Agreement Act of 2011 S.3468, Independent Agency Regulatory Analysis Act of 2012 S.1573, Financial Services and General Government Appropriations Act, 2012 S.3204, A bill to address fee disclosure requirements under the Electronic Fund Transfer Act, and for other purposes S.3394, A bill to address fee disclosure requirements under the Electronic Fund Transfer Act, to amend the Federal Deposit Insurance Act with respect to information provided to the Bureau of Consumer Financial Protection, and for other purposes H.R.4367, To amend the Electronic Fund Transfer Act to limit the fee disclosure requirement for an automatic teller machine to the screen of that machine H.R.2086, Medical Debt Responsibility Act of 2011 H.R. 6139, Consumer Credit Access, Innovation, and Modernization Act H.R.6363, Credit Access and Inclusion Act Issues related to free credit scores, fair lending, and the implementation of the Dodd-Frank Wall Street Reform (P.L. 111-203) Issues related to "Too Big to Fail" and the implementation of the Glass-Steagall Act Issues related to medical debt relief and usury caps Issues related to the issuance of the Consumer Financial Protection Bureau's overdraft, mortgage form, and privacy rules Issues related to financial privacy Issues related to student loan relief and costs of for-profit colleges Issues related to gift cards, ATM fees, and mobile payment systems Issues related to the direct deposit of social security
Client expense: $50,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Centers For Disease Control & Prevention (CDC), Centers For Medicare and Medicaid Services (CMS), Commodity Futures Trading Commission (CFTC), Consumer Product Safety Commission (CPSC), Environmental Protection Agency (EPA), Federal Communications Commission (FCC), Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Natl Highway Traffic Safety Administration (NHTSA), Natl Telecommunications & Information Administration (NTIA), Office of Management & Budget (OMB), SENATE, White House Office
2012 · third_quarter · Financial Institutions/Investments/Securities
Credit Regulation, S.3452; Military Lending Act, S.2467; High Cost Lending, S.3426, HR 6139, HR 1909
Client expense: $10,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · third_quarter · Banking
Financial Services Regulation; Non-Bank Federal Charter HR 6139, HR 1909; CFPB and regulatory process S.3468
Client expense: $10,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · third_quarter · Banking
Support of H.R. 6139 the Consumer Credit Access, Innovation, and Modernization Act.
Client expense: $38,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Minerals Management Service, SENATE
2012 · third_quarter · Banking
passage of H.R. 6139; and issues related to small dollar single payment and installment loan and pawn issues.
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · third_quarter · Financial Institutions/Investments/Securities
passage of H.R. 6139; and issues related to payday loan and pawn issues
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · third_quarter · Banking
Monitor the following: Public Law 111-517, Dodd-Frank Wall Street Reform and Consumer Protection Act, Consumer Financial Protection Agency. S.782, Economic Development Revitalization Act of 2011, Consumer Financial Protection Bureau H.R.1121, The Responsible Consumer Financial Protection Regulations Act, Consumer Financial Protection Bureau Monitor the following: H.R.1315, Consumer Financial Protection Safety and Soundness Improvement Act of 2011, Consumer Financial Protection Bureau H.R.1667, Bureau of Consumer Financial Protection Transfer Clarification Act, Consumer Financial Protection Bureau S.1615, Financial Regulatory Responsibility Act H.R.3461, Financial Institutions Examination Fairness and Reform Act H.R.1909, FFSCC Charter Act of 2011 Mortgage Foreclosure data and research issues generally. H.R.6139, Consumer, Credit, Access, Innovation and Modernization Act, Consumer Financial Protection Bureau issues.
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2012 · third_quarter · Consumer Issues/Safety/Products
Issues related to legislation to provide a federal charter for nonbank lenders; H.R. 1909, H.R. 6139; Issues related to implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Client expense: Not reported · Firm income: Not reported
2012 · third_quarter · Banking
Issues related to legislation to provide a federal charter for nonbank lenders; H.R. 1909, H.R. 6139; Issues related to implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Client expense: Not reported · Firm income: Not reported
2012 · second_quarter · Financial Institutions/Investments/Securities
Eliminate predatory lending; ensure equal access to financial services to all Americans. Eliminate disparities in credit reporting. Ease home mortgage foreclosure crisis. Eliminate pay day lending. Support capping all interest rates at 36% APR. Support a strong, responsive Consumer Financial Protection Bureau. Oppose "vulture funds". Support debt relief for poor nations, a.k.a. the Jubilee Act. Reform the mortgage servicers industry so that more loans are modified and fewer homes are foreclosed upon. Support reauthorization, modernization and expansion of the Community Reinvestment Act (CRA),. Support efforts to eliminate predatory loans. Oppose exploitative payday loans; Support 36% interest rate cap; . Oppose federal preemption of state consumer financial protection laws. Reform the mortgage servicers industry so that more loans are modified and fewer homes are foreclosed upon. Try to stop abusive credit card practices. Support allowing bankruptcy judges to require loan modifications on primary residence mortgages. Oppose exploitative payday lending. Support efforts to eliminate predatory lending. Support reauthorization, modernization and expansion of the Community Reinvestment Act (CRA). oppose the elimination of funding for HUD's housing counseling programs. Support financial literacy programs. Support a ban on the use of credit reports by potential employers. Support Dr. Elizabeth Warren to be the first Director of the Consumer Financial Protection Bureau. Oppose H.R. 839, terminating the HAMP program; oppose H.R. 861, terminating HUD's Neighborhood Stabilization Program; oppose H.R. 836, terminating HUD's emergency Mortgage Relief program; oppose H.R. 830, terminating the FHA Refinance Program. Support a strong Consumer Financial Protection Bureau, which begins its activities as soon as possible. Oppose H.R. 1121; oppose H.R. 1315; oppose legislation intended to delay regulatory authority of the CFPB until a Director is confirmed; oppose legislation removing the prudential regulators ability to allow the CFPB to participate in examinations of large financial institutions before the designated transfer date. Support pro-consumer changes to the GSEs (Fannie Mae and Freddie Mac). Oppose a piecemeal approach to reforming Fannie Mae and Freddie Mac ("the GSEs"). Support a comprehensive approach to housing finance reform that will further the federal governments housing policy objectives of promoting residential integration, eliminating housing discrimination, and providing safe, decent, and affordable housing for all. Express grave concerns about proposed rules for risk-based pricing rule. Strengthening the proposed rule for holding servicers accountable for illegal deeds. Oppose delaying regulations limiting fees charged to merchants by issuers of debit cards. Support a flexible and inclusive definition of "larger participants" by the Consumer Financial Protection Bureau (participated in a CFPB roundtable discussion on the issue). Express grave concerns about the promulgation of the Dodd-Frank Credit Score disclosure requirement. Support keeping responsible and affordable mortgage credit flowing to all neighborhoods and to all qualified borrowers, stopping wrongful foreclosures, and support the development of affordable rental homes close to good schools and quality jobs Support a more thorough investigation into the Capital One /ING merger. Support extending the public comment period on the merger as well as five public hearings around the country. Oppose potential employers reviewing a potential employees credit report / credit score prior to making any hiring decision. Support HR 321. Support sensible, non-exploitative mortgage lending. Adopt a qualified mortgage standard that will not shut out prospective minority homeowners. Support Richard Cordray to be Director of the Consumer Financial Protection Bureau. Contact the Federal Housing Finance Agency (and others) in support of risk retention as defined in the Dodd-Frank bill but opposed to a high downpayment to qualify for a Qualified Residential Mortgage (QRM). Contact the FHFA in support of a more robust federal response to the foreclosure crisis, including banning the two track system whereby homeowners facing foreclosure who are trying to modify their loan also find their foreclosure proceeding moving ahead. Outlaw Robosigning and remedy homeowners adversely affected by the practice, in which many servicers did not even read the foreclosure documents they were signing. Principal reductions should be provided in both the federal governments home loan modification programs and each financial institutions private loan modification programs. They should include heightened loss-mitigation standards. Finally, they should also include a forbearance program to help unemployed homeowners. Support strong action by the Consumer Financial Protection Bureau in protecting consumers from abusive checking account policies. Support allowing consumers to transfer banking accounts to a different institution with little or no monetary repercussion. Support HR 3077. Support Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB). Support significantly strengthening the Office of the Comptroller of the Currencys (OCC) proposed guidance on overdraft programs and deposit advance products in such a way that all customers receive the lowest cost credit for which they qualify, and national banks are encouraged to offer responsible overdraft and credit products. Support the Reed (RI) amendment to S. 1867 which closed a loophole allowing payday lenders to charge members of the military more than 36% for short-term loans. Supported the Consumer Financial Protection Bureau (CFPB) take strong steps to stop checking account abuses. Specifically, we asked that the CFPB: Require information on important checking account terms to be disclosed in a one-page Consumer Choice Box; Require complete disclosure of all overdraft options; Require reasonable and proportional overdraft fees; Require the posting of deposits and withdrawals in a neutral manner; and Examine the prevalence of dispute resolution clauses in checking account agreements and the existence of fee shifting provisions that require the accountholder to pay at least a portion of the banks costs when a dispute occurs. Support a two-month extension of the comment period to allow the Federal Reserve Board to hold a formal hearing and public meetings in at least five cities about Capital Ones proposed acquisition of Bank Nevada, N.A. Oppose H.R. 3035, the Mobile Informational Call Act of 2011. Support a study of the regulation of interchange fees but oppose a delay in the implementation of the Durbin amendment to Dodd-Frank. Urge the Consumver Financial Protection Bureau (CFPB) to define "larger participants" among dect collecters and consumer reporting agencies broadly, yet in a manner that does not allow companies to evade review. Also encouraged the CFPB to examine all of an entities' consumer financial products and services. Support H.R. 2086 / S. 2149, the Medical Debt Responsibility Act, which requirees that credit agencies to remove FULLY paid or settled medical debt from credit reports within 45 days. Support the CFPB adopting a definition of the Qualified Mortgage that covers the vast majority of the marketplace, so that most mortgage borrowers have the benefit of the strongest protections. Oppose any narrowing of the definitions of consumer or credit that are subject to Equal Credit Opportunity Act to match the narrower definitions in the Truth in Lending Act (TILA) or other statutes. (We also oppose narrowing the coverage of TILA or the Real Estate Settlement Procedures Act.). Oppose expanding exemptions to the data reporting requirements of Regulation C under the Home Mortgage Disclosure Act (HMDA). The CFPB should not weaken the rule that credit card issuers must consider the consumers independent ability to pay and cannot, as a general matter, rely solely on household income. Support Helping Homeowners Refinance Act of 2012, S. 2072 Support federal regulators of our nations banks to take immediate action to stop banks from making unaffordable, high-cost payday loans. Support inclusion of consumer narratives be in the CFPB's credit card complaint database. Support the settlement betwqeen the States' Attorneys Generals and several financial institutions regarding robosigning and foreclosures. Support the settlement between U.S. Department of Justice and Bank of America over Countrywide's discriminatory mortgage lending practices. Support Leon Russell to serve on the CFPB Advisory Panel. Oppose the Red Tape Reduction and Small Business Job Creation Act" (H.R. 4078), which includes the Regulatory Freeze For Jobs Act, the Midnight Rule Relief Act of 2012" (H.R. 4607), and the Sunshine for Regulatory Decrees and Settlements Act of 2012 (H.R. 3862), among other harmful bills. Support the prohibition of overdraft fees and credit on Prepaid Cards (letter to the CFPB). Oppose H.R. 6139, the National Consumer Credit Corporation Charter and Consumer Access Innovation Act of 2012, and any similar legislation that may be introduced. Oppose all proposals to weaken the structure, powers or funding of the Consumer Financial Protection Bureau, including the proposal which would eliminate the Consumer Financial Protection Bureaus (CFPB) independence by making it the only bank regulatory agency placed under the appropriations process. Oppose Urban Trust Bank from partnering with the payday lender CheckSmart (formerly known as Buckeye Check Cashing) and Insight Card Services, LLC to help CheckSmart evade state usury and payday loan laws by making payday loans on prepaid cards. As the CFPB defines the entities that will be subject to examination in this and future rulemakings, it should define larger broadly, prevent evasions by including counting the revenues of affiliated companies and also firms that act as agents or are under contract to another firm, and examine all of an entitys consumer financial products and services even if it is a larger participant in just one market. Strongly support H.R. 2086 and S. 2149, the Medical Debt Responsibility Act Support extending mortgage protections under the Servicemember Civil Reflieef Act. Support the Cummings (MD) amendment to HR 4310
Client expense: $62,500 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Bureau of Indian Affairs (BIA), Centers For Disease Control & Prevention (CDC), Commerce, Dept of (DOC), Defense, Dept of (DOD), Education, Dept of, Environmental Protection Agency (EPA), Equal Employment Opportunity Commission (EEOC), Federal Aviation Administration (FAA), Federal Bureau of Investigation (FBI), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Emergency Management Agency (FEMA), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Park Service (NPS), Office of Personnel Management (OPM), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), Social Security Administration (SSA), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Commission on Civil Rights, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), Voice of America, White House Office
2012 · second_quarter · Banking
Eliminate predatory lending; ensure equal access to financial services to all Americans. Eliminate disparities in credit reporting. Ease home mortgage foreclosure crisis. Eliminate pay day lending. Support capping all interest rates at 36% APR. Support a strong, responsive Consumer Financial Protection Bureau. Reform the mortgage servicers industry so that more loans are modified and fewer homes are foreclosed upon. Try to stop abusive credit card practices. Support allowing bankruptcy judges to require loan modifications on primary residence mortgages. Oppose exploitative payday lending. Support efforts to eliminate predatory lending. Support reauthorization, modernization and expansion of the Community Reinvestment Act (CRA). oppose the elimination of funding for HUD's housing counseling programs. Support financial literacy programs. Support a ban on the use of credit reports by potential employers. Support Dr. Elizabeth Warren to be the first Director of the Consumer Financial Protection Bureau. Oppose H.R. 839, terminating the HAMP program; oppose H.R. 861, terminating HUD's Neighborhood Stabilization Program; oppose H.R. 836, terminating HUD's emergency Mortgage Relief program; oppose H.R. 830, terminating the FHA Refinance Program. Support a strong Consumer Financial Protection Bureau, which begins its activities as soon as possible. Oppose H.R. 1121; oppose H.R. 1315; oppose legislation intended to delay regulatory authority of the CFPB until a Director is confirmed; oppose legislation removing the prudential regulators ability to allow the CFPB to participate in examinations of large financial institutions before the designated transfer date. Support pro-consumer changes to the GSEs (Fannie Mae and Freddie Mac). Oppose a piecemeal approach to reforming Fannie Mae and Freddie Mac ("the GSEs"). Support a comprehensive approach to housing finance reform that will further the federal governments housing policy objectives of promoting residential integration, eliminating housing discrimination, and providing safe, decent, and affordable housing for all. Oppose delaying regulations limiting fees charged to merchants by issuers of debit cards. Support a flexible and inclusive definition of "larger participants" by the Consumer Financial Protection Bureau (participated in a CFPB roundtable discussion on the issue). Express grave concerns about the promulgation of the Dodd-Frank Credit Score disclosure requirement. Oppose potential employers reviewing a potential employee's credit report or credit score prior to making a hiring decision. Support HR 321 Support strong action by the Consumer Financial Protection Bureau in protecting consumers from abusive checking account policies. Support allowing consumers to transfer banking accounts to a different institution with little or no monetary repercussion. Support HR 3077. Support Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB). Support significantly strengthening the Office of the Comptroller of the Currencys (OCC) proposed guidance on overdraft programs and deposit advance products in such a way that all customers receive the lowest cost credit for which they qualify, and national banks are encouraged to offer responsible overdraft and credit products. Support a study of the regulation of interchange fees but oppose a delay in the implementation of the Durbin amendment to Dodd-Frank. Support H.R. 2086 / S. 2149, the Medical Debt Responsibility Act, which requirees that credit agencies to remove FULLY paid or settled medical debt from credit reports within 45 days. Support a strong settlement to the legal actions under discussion, and one that leaves open the path for further needed actions to hold lawbreakers accountable in the matter of the states Attorneys General and the Federal Government versus various financial institutions for breaking the law in terms of mortgages. Supported the Consumer Financial Protection Bureau (CFPB) take strong steps to stop checking account abuses. Specifically, we asked that the CFPB: Require information on important checking account terms to be disclosed in a one-page Consumer Choice Box; Require complete disclosure of all overdraft options; Require reasonable and proportional overdraft fees; Require the posting of deposits and withdrawals in a neutral manner; and Examine the prevalence of dispute resolution clauses in checking account agreements and the existence of fee shifting provisions that require the account holder to pay at least a portion of the banks costs when a dispute occurs. Support a two-month extension of the comment period to allow the Federal Reserve Board to hold a formal hearing and public meetings in at least five cities about Capital Ones proposed acquisition of Bank Nevada, N.A. Oppose H.R. 3035, the Mobile Informational Call Act of 2011, Support the CFPB adopting a definition of the Qualified Mortgage that covers the vast majority of the marketplace, so that most mortgage borrowers have the benefit of the strongest protections. Oppose any narrowing of the definitions of consumer or credit that are subject to Equal Credit Opportunity Act to match the narrower definitions in the Truth in Lending Act (TILA) or other statutes. (We also oppose narrowing the coverage of TILA or the Real Estate Settlement Procedures Act.) Oppose expanding exemptions to the data reporting requirements of Regulation C under the Home Mortgage Disclosure Act (HMDA). The CFPB should not weaken the rule that credit card issuers must consider the consumers independent ability to pay and cannot, as a general matter, rely solely on household income. Support Helping Homeowners Refinance Act of 2012, S. 2072 Support federal regulators of our nations banks to take immediate action to stop banks from making unaffordable, high-cost payday loans. Support inclusion of consumer narratives be in the CFPB's credit card complaint database. Support the settlement betwqeen the States' Attorneys Generals and several financial institutions regarding robosigning and foreclosures. Support the settlement between U.S. Department of Justice and Bank of America over Countrywide's discriminatory mortgage lending practices. Support Leon Russell to serve on the CFPB Advisory Panel. Supported access to idividual complaints, as well as data collection as to who is making the complaints, to the CFPB (while puting key protections in place to ensure individual privacy). Oppose the Red Tape Reduction and Small Business Job Creation Act" (H.R. 4078), which includes the Regulatory Freeze For Jobs Act, the Midnight Rule Relief Act of 2012" (H.R. 4607), and the Sunshine for Regulatory Decrees and Settlements Act of 2012 (H.R. 3862), among other harmful bills. Support the prohibition of overdraft fees and credit on Prepaid Cards (letter to the CFPB). Oppose H.R. 6139, the National Consumer Credit Corporation Charter and Consumer Access Innovation Act of 2012, and any similar legislation that may be introduced. Oppose all proposals to weaken the structure, powers or funding of the Consumer Financial Protection Bureau, including the proposal which would eliminate the Consumer Financial Protection Bureaus (CFPB) independence by making it the only bank regulatory agency placed under the appropriations process. Oppose Urban Trust Bank from partnering with the payday lender CheckSmart (formerly known as Buckeye Check Cashing) and Insight Card Services, LLC to help CheckSmart evade state usury and payday loan laws by making payday loans on prepaid cards.
Client expense: $62,500 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Bureau of Indian Affairs (BIA), Centers For Disease Control & Prevention (CDC), Commerce, Dept of (DOC), Defense, Dept of (DOD), Education, Dept of, Environmental Protection Agency (EPA), Equal Employment Opportunity Commission (EEOC), Federal Aviation Administration (FAA), Federal Bureau of Investigation (FBI), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Emergency Management Agency (FEMA), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Park Service (NPS), Office of Personnel Management (OPM), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), Social Security Administration (SSA), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Commission on Civil Rights, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), Voice of America, White House Office
2012 · first_quarter · Banking
Eliminate predatory lending; ensure equal access to financial services to all Americans. Eliminate disparities in credit reporting. Ease home mortgage foreclosure crisis. Eliminate pay day lending. Support capping all interest rates at 36% APR. Support a strong, responsive Consumer Financial Protection Bureau. Reform the mortgage servicers industry so that more loans are modified and fewer homes are foreclosed upon. Try to stop abusive credit card practices. Support allowing bankruptcy judges to require loan modifications on primary residence mortgages. Oppose exploitative payday lending. Support efforts to eliminate predatory lending. Support reauthorization, modernization and expansion of the Community Reinvestment Act (CRA). oppose the elimination of funding for HUD's housing counseling programs. Support financial literacy programs. Support a ban on the use of credit reports by potential employers. Support Dr. Elizabeth Warren to be the first Director of the Consumer Financial Protection Bureau. Oppose H.R. 839, terminating the HAMP program; oppose H.R. 861, terminating HUD's Neighborhood Stabilization Program; oppose H.R. 836, terminating HUD's emergency Mortgage Relief program; oppose H.R. 830, terminating the FHA Refinance Program. Support a strong Consumer Financial Protection Bureau, which begins its activities as soon as possible. Oppose H.R. 1121; oppose H.R. 1315; oppose legislation intended to delay regulatory authority of the CFPB until a Director is confirmed; oppose legislation removing the prudential regulators ability to allow the CFPB to participate in examinations of large financial institutions before the designated transfer date. Support pro-consumer changes to the GSEs (Fannie Mae and Freddie Mac). Oppose a piecemeal approach to reforming Fannie Mae and Freddie Mac ("the GSEs"). Support a comprehensive approach to housing finance reform that will further the federal governments housing policy objectives of promoting residential integration, eliminating housing discrimination, and providing safe, decent, and affordable housing for all. Oppose delaying regulations limiting fees charged to merchants by issuers of debit cards. Support a flexible and inclusive definition of "larger participants" by the Consumer Financial Protection Bureau (participated in a CFPB roundtable discussion on the issue). Express grave concerns about the promulgation of the Dodd-Frank Credit Score disclosure requirement. Oppose potential employers reviewing a potential employee's credit report or credit score prior to making a hiring decision. Support HR 321 Support strong action by the Consumer Financial Protection Bureau in protecting consumers from abusive checking account policies. Support allowing consumers to transfer banking accounts to a different institution with little or no monetary repercussion. Support HR 3077. Support Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB). Support significantly strengthening the Office of the Comptroller of the Currencys (OCC) proposed guidance on overdraft programs and deposit advance products in such a way that all customers receive the lowest cost credit for which they qualify, and national banks are encouraged to offer responsible overdraft and credit products. Support a study of the regulation of interchange fees but oppose a delay in the implementation of the Durbin amendment to Dodd-Frank. Support H.R. 2086 / S. 2149, the Medical Debt Responsibility Act, which requirees that credit agencies to remove FULLY paid or settled medical debt from credit reports within 45 days. Support a strong settlement to the legal actions under discussion, and one that leaves open the path for further needed actions to hold lawbreakers accountable in the matter of the states Attorneys General and the Federal Government versus various financial institutions for breaking the law in terms of mortgages. Supported the Consumer Financial Protection Bureau (CFPB) take strong steps to stop checking account abuses. Specifically, we asked that the CFPB: Require information on important checking account terms to be disclosed in a one-page Consumer Choice Box; Require complete disclosure of all overdraft options; Require reasonable and proportional overdraft fees; Require the posting of deposits and withdrawals in a neutral manner; and Examine the prevalence of dispute resolution clauses in checking account agreements and the existence of fee shifting provisions that require the account holder to pay at least a portion of the banks costs when a dispute occurs. Support a two-month extension of the comment period to allow the Federal Reserve Board to hold a formal hearing and public meetings in at least five cities about Capital Ones proposed acquisition of Bank Nevada, N.A. Oppose H.R. 3035, the Mobile Informational Call Act of 2011, Support the CFPB adopting a definition of the Qualified Mortgage that covers the vast majority of the marketplace, so that most mortgage borrowers have the benefit of the strongest protections. Oppose any narrowing of the definitions of consumer or credit that are subject to Equal Credit Opportunity Act to match the narrower definitions in the Truth in Lending Act (TILA) or other statutes. (We also oppose narrowing the coverage of TILA or the Real Estate Settlement Procedures Act.) Oppose expanding exemptions to the data reporting requirements of Regulation C under the Home Mortgage Disclosure Act (HMDA). The CFPB should not weaken the rule that credit card issuers must consider the consumers independent ability to pay and cannot, as a general matter, rely solely on household income. Support Helping Homeowners Refinance Act of 2012, S. 2072 Support federal regulators of our nations banks to take immediate action to stop banks from making unaffordable, high-cost payday loans. Support inclusion of consumer narratives be in the CFPB's credit card complaint database. Support the settlement betwqeen the States' Attorneys Generals and several financial institutions regarding robosigning and foreclosures. Support the settlement between U.S. Department of Justice and Bank of America over Countrywide's discriminatory mortgage lending practices. Support Leon Russell to serve on the CFPB Advisory Panel. Supported access to idividual complaints, as well as data collection as to who is making the complaints, to the CFPB (while puting key protections in place to ensure individual privacy). Oppose the Red Tape Reduction and Small Business Job Creation Act" (H.R. 4078), which includes the Regulatory Freeze For Jobs Act, the Midnight Rule Relief Act of 2012" (H.R. 4607), and the Sunshine for Regulatory Decrees and Settlements Act of 2012 (H.R. 3862), among other harmful bills. Support the prohibition of overdraft fees and credit on Prepaid Cards (letter to the CFPB). Oppose H.R. 6139, the National Consumer Credit Corporation Charter and Consumer Access Innovation Act of 2012, and any similar legislation that may be introduced. Oppose all proposals to weaken the structure, powers or funding of the Consumer Financial Protection Bureau, including the proposal which would eliminate the Consumer Financial Protection Bureaus (CFPB) independence by making it the only bank regulatory agency placed under the appropriations process. Oppose Urban Trust Bank from partnering with the payday lender CheckSmart (formerly known as Buckeye Check Cashing) and Insight Card Services, LLC to help CheckSmart evade state usury and payday loan laws by making payday loans on prepaid cards.
Client expense: $62,500 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Centers For Disease Control & Prevention (CDC), Commerce, Dept of (DOC), Defense, Dept of (DOD), Education, Dept of, Environmental Protection Agency (EPA), Equal Employment Opportunity Commission (EEOC), Federal Aviation Administration (FAA), Federal Bureau of Investigation (FBI), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Emergency Management Agency (FEMA), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Park Service (NPS), Office of Personnel Management (OPM), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), Social Security Administration (SSA), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Commission on Civil Rights, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), Voice of America, White House Office
2012 · first_quarter · Financial Institutions/Investments/Securities
Eliminate predatory lending; ensure equal access to financial services to all Americans. Eliminate disparities in credit reporting. Ease home mortgage foreclosure crisis. Eliminate pay day lending. Support capping all interest rates at 36% APR. Support a strong, responsive Consumer Financial Protection Bureau. Oppose "vulture funds". Support debt relief for poor nations, a.k.a. the Jubilee Act. Reform the mortgage servicers industry so that more loans are modified and fewer homes are foreclosed upon. Support reauthorization, modernization and expansion of the Community Reinvestment Act (CRA),. Support efforts to eliminate predatory loans. Oppose exploitative payday loans; Support 36% interest rate cap; . Oppose federal preemption of state consumer financial protection laws. Reform the mortgage servicers industry so that more loans are modified and fewer homes are foreclosed upon. Try to stop abusive credit card practices. Support allowing bankruptcy judges to require loan modifications on primary residence mortgages. Oppose exploitative payday lending. Support efforts to eliminate predatory lending. Support reauthorization, modernization and expansion of the Community Reinvestment Act (CRA). oppose the elimination of funding for HUD's housing counseling programs. Support financial literacy programs. Support a ban on the use of credit reports by potential employers. Support Dr. Elizabeth Warren to be the first Director of the Consumer Financial Protection Bureau. Oppose H.R. 839, terminating the HAMP program; oppose H.R. 861, terminating HUD's Neighborhood Stabilization Program; oppose H.R. 836, terminating HUD's emergency Mortgage Relief program; oppose H.R. 830, terminating the FHA Refinance Program. Support a strong Consumer Financial Protection Bureau, which begins its activities as soon as possible. Oppose H.R. 1121; oppose H.R. 1315; oppose legislation intended to delay regulatory authority of the CFPB until a Director is confirmed; oppose legislation removing the prudential regulators ability to allow the CFPB to participate in examinations of large financial institutions before the designated transfer date. Support pro-consumer changes to the GSEs (Fannie Mae and Freddie Mac). Oppose a piecemeal approach to reforming Fannie Mae and Freddie Mac ("the GSEs"). Support a comprehensive approach to housing finance reform that will further the federal governments housing policy objectives of promoting residential integration, eliminating housing discrimination, and providing safe, decent, and affordable housing for all. Express grave concerns about proposed rules for risk-based pricing rule. Strengthening the proposed rule for holding servicers accountable for illegal deeds. Oppose delaying regulations limiting fees charged to merchants by issuers of debit cards. Support a flexible and inclusive definition of "larger participants" by the Consumer Financial Protection Bureau (participated in a CFPB roundtable discussion on the issue). Express grave concerns about the promulgation of the Dodd-Frank Credit Score disclosure requirement. Support keeping responsible and affordable mortgage credit flowing to all neighborhoods and to all qualified borrowers, stopping wrongful foreclosures, and support the development of affordable rental homes close to good schools and quality jobs Support a more thorough investigation into the Capital One /ING merger. Support extending the public comment period on the merger as well as five public hearings around the country. Oppose potential employers reviewing a potential employees credit report / credit score prior to making any hiring decision. Support HR 321. Support sensible, non-exploitative mortgage lending. Adopt a qualified mortgage standard that will not shut out prospective minority homeowners. Support Richard Cordray to be Director of the Consumer Financial Protection Bureau. Contact the Federal Housing Finance Agency (and others) in support of risk retention as defined in the Dodd-Frank bill but opposed to a high downpayment to qualify for a Qualified Residential Mortgage (QRM). Contact the FHFA in support of a more robust federal response to the foreclosure crisis, including banning the two track system whereby homeowners facing foreclosure who are trying to modify their loan also find their foreclosure proceeding moving ahead. Outlaw Robosigning and remedy homeowners adversely affected by the practice, in which many servicers did not even read the foreclosure documents they were signing. Principal reductions should be provided in both the federal governments home loan modification programs and each financial institutions private loan modification programs. They should include heightened loss-mitigation standards. Finally, they should also include a forbearance program to help unemployed homeowners. Support strong action by the Consumer Financial Protection Bureau in protecting consumers from abusive checking account policies. Support allowing consumers to transfer banking accounts to a different institution with little or no monetary repercussion. Support HR 3077. Support Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB). Support significantly strengthening the Office of the Comptroller of the Currencys (OCC) proposed guidance on overdraft programs and deposit advance products in such a way that all customers receive the lowest cost credit for which they qualify, and national banks are encouraged to offer responsible overdraft and credit products. Support the Reed (RI) amendment to S. 1867 which closed a loophole allowing payday lenders to charge members of the military more than 36% for short-term loans. Supported the Consumer Financial Protection Bureau (CFPB) take strong steps to stop checking account abuses. Specifically, we asked that the CFPB: Require information on important checking account terms to be disclosed in a one-page Consumer Choice Box; Require complete disclosure of all overdraft options; Require reasonable and proportional overdraft fees; Require the posting of deposits and withdrawals in a neutral manner; and Examine the prevalence of dispute resolution clauses in checking account agreements and the existence of fee shifting provisions that require the accountholder to pay at least a portion of the banks costs when a dispute occurs. Support a two-month extension of the comment period to allow the Federal Reserve Board to hold a formal hearing and public meetings in at least five cities about Capital Ones proposed acquisition of Bank Nevada, N.A. Oppose H.R. 3035, the Mobile Informational Call Act of 2011. Support a study of the regulation of interchange fees but oppose a delay in the implementation of the Durbin amendment to Dodd-Frank. Urge the Consumver Financial Protection Bureau (CFPB) to define "larger participants" among dect collecters and consumer reporting agencies broadly, yet in a manner that does not allow companies to evade review. Also encouraged the CFPB to examine all of an entities' consumer financial products and services. Support H.R. 2086 / S. 2149, the Medical Debt Responsibility Act, which requirees that credit agencies to remove FULLY paid or settled medical debt from credit reports within 45 days. Support the CFPB adopting a definition of the Qualified Mortgage that covers the vast majority of the marketplace, so that most mortgage borrowers have the benefit of the strongest protections. Oppose any narrowing of the definitions of consumer or credit that are subject to Equal Credit Opportunity Act to match the narrower definitions in the Truth in Lending Act (TILA) or other statutes. (We also oppose narrowing the coverage of TILA or the Real Estate Settlement Procedures Act.). Oppose expanding exemptions to the data reporting requirements of Regulation C under the Home Mortgage Disclosure Act (HMDA). The CFPB should not weaken the rule that credit card issuers must consider the consumers independent ability to pay and cannot, as a general matter, rely solely on household income. Support Helping Homeowners Refinance Act of 2012, S. 2072 Support federal regulators of our nations banks to take immediate action to stop banks from making unaffordable, high-cost payday loans. Support inclusion of consumer narratives be in the CFPB's credit card complaint database. Support the settlement betwqeen the States' Attorneys Generals and several financial institutions regarding robosigning and foreclosures. Support the settlement between U.S. Department of Justice and Bank of America over Countrywide's discriminatory mortgage lending practices. Support Leon Russell to serve on the CFPB Advisory Panel. Oppose the Red Tape Reduction and Small Business Job Creation Act" (H.R. 4078), which includes the Regulatory Freeze For Jobs Act, the Midnight Rule Relief Act of 2012" (H.R. 4607), and the Sunshine for Regulatory Decrees and Settlements Act of 2012 (H.R. 3862), among other harmful bills. Support the prohibition of overdraft fees and credit on Prepaid Cards (letter to the CFPB). Oppose H.R. 6139, the National Consumer Credit Corporation Charter and Consumer Access Innovation Act of 2012, and any similar legislation that may be introduced. Oppose all proposals to weaken the structure, powers or funding of the Consumer Financial Protection Bureau, including the proposal which would eliminate the Consumer Financial Protection Bureaus (CFPB) independence by making it the only bank regulatory agency placed under the appropriations process. Oppose Urban Trust Bank from partnering with the payday lender CheckSmart (formerly known as Buckeye Check Cashing) and Insight Card Services, LLC to help CheckSmart evade state usury and payday loan laws by making payday loans on prepaid cards. As the CFPB defines the entities that will be subject to examination in this and future rulemakings, it should define larger broadly, prevent evasions by including counting the revenues of affiliated companies and also firms that act as agents or are under contract to another firm, and examine all of an entitys consumer financial products and services even if it is a larger participant in just one market. Strongly support H.R. 2086 and S. 2149, the Medical Debt Responsibility Act Support extending mortgage protections under the Servicemember Civil Reflieef Act. Support the Cummings (MD) amendment to HR 4310
Client expense: $62,500 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Centers For Disease Control & Prevention (CDC), Commerce, Dept of (DOC), Defense, Dept of (DOD), Education, Dept of, Environmental Protection Agency (EPA), Equal Employment Opportunity Commission (EEOC), Federal Aviation Administration (FAA), Federal Bureau of Investigation (FBI), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Emergency Management Agency (FEMA), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Park Service (NPS), Office of Personnel Management (OPM), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), Social Security Administration (SSA), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Commission on Civil Rights, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), Voice of America, White House Office
2012 · second_quarter · Financial Institutions/Investments/Securities
Issues related to the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act; H.R.1909, FFSCC Charter Act of 2011 (To create a charter for Federal Financial Services and Credit Companies); Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) regulations; short-term credit issues related to H.R.6139, To create a Federal charter for National Consumer Credit Corporations, and for other purposes.
Client expense: $180,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Office of the Comptroller of the Currency (OCC), SENATE, Treasury, Dept of
2012 · second_quarter · Financial Institutions/Investments/Securities
Legislation relating to providing a federal charter for nonbank lenders; H.R. 1909; H.R. 6139
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES
2012 · second_quarter · Financial Institutions/Investments/Securities
Legislation relating to having a federal charter for nonbank lenders; H.R. 1909; H.R. 6139
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES