Washington, D.C. (July 24, 2013) – Richard Hunt, President and CEO of the Consumer Bankers Association, testified today before a hearing of the U.S. Senate Special Committee on Aging. The hearing focused on short-term liquidity products and their impact on consumers, particularly senior citizens. In his testimony, Hunt stated bank-offered deposit advance products play a valuable role in that they help keep consumers from being pushed out of the heavily-regulated banking system and into more expensive and often less and inconsistently regulated alternatives, such as traditional payday loans,...