- CBA on
- CBA Media
CBA supports strong national data protection and consumer notification standards with effective enforcement provisions that are applicable to any party with access to important consumer financial information. CBA members are already subject to robust data protection and notification standards and these requirements must be recognized. Inconsistent state laws and regulations should be preempted in favor of strong Federal data protection and notification standards. CBA firmly holds that all parties must share in protecting consumers and, as such, the costs of a data breach should ultimately be borne by the entity that incurs the breach. Protecting consumer data is a shared responsibility, and merchants must have the same tough data security standards as financial institutions to thwart hackers as well as the ability to accept chip-based cards.
- September 8, 2017Welcoming CBA’s Board of Directors & Committee Leadership We are excited to welcome our Board of Directors to CBA HQ next week for our September Board meeting. Each time we meet, it provides us an opportunity to chart a path forward for the retail banking industry and discuss how we can best serve consumers and small businesses. We also will announce our Board leadership team for 2018, as...
- September 8, 2017The acquisition phase of the customer life cycle is often filled with many unique challenges for financial marketers. These challenges include identifying profitable prospects, understanding the best product/service to offer, and communicating through the right channels at the right moment in time. Data modeling is a powerful tool that can help bank marketers conduct more effective customer...
- August 29, 2017 - 2:00PMPastJune 8, 2017On Thursday, June 08, 2017, CFPB Director Richard Cordray announced the Bureau granted CBA’s request for a 60-day extension to the comment period for the “Request for Information Regarding the Small Business Lending Market.” The Director made the announcement during his remarks at the Bureau’s Consumer Advisory Board Meeting. A copy of his remarks will be posted on consumerfinance.gov and a...May 10, 2017 - 2:00PMPastApril 27, 2017 - 2:00PMPastApril 26, 2017On Wednesday, April 26, 2017, the Conference of State Bank Supervisors (CSBS) filed a lawsuit against the OCC in U.S. District Court to prevent the agency from creating a national bank charter for fintech companies. “The OCC’s action is an unprecedented, unlawful expansion of the chartering authority given to it by Congress for national banks. If Congress had intended it to be used for another...April 20, 2017 - 2:00PMPastApril 19, 2017On Wednesday, April 19, 2017, the Government Accountability Office (GAO) released a report on the fintech industry in response to a request from Sens. Sherrod Brown (D-OH), Jeanne Shaheen (D-NH) and Jeff Merkley (D-OR). The GAO stated there is “universal definition of fintech,” it can be loosely understood to encompass specific subsectors likely to have greatest impact on traditional financial...April 14, 2017The OCC recently offered a proposal to charter fintech companies by amending the Comptroller’s Licensing Manual with a new supplement covering fintech companies. On April 14, 2017, CBA offered a comment letter in response to this proposal, crediting the OCC for granting its request for additional information and for making certain adjustments to its original proposal. However, CBA reiterated its...