Deposits & Payments

Deposit growth and strategies have always been a core focus of retail banks. Today's volatile economic climate - with consumers relying less on credit products and more on deposit account services - brings deposit growth and account management to the forefront. As technology and consumer needs evolve, so does the concept of payments. With innovations such as virtual wallets and other forms of digital currency comes new and unique challenges for the payments space. CBA monitors and addresses the issues facing retail banks in the management of the deposits and payments functions.

  • June 8, 2015
    June 8, 2015 BY ELECTRONIC DELIVERY Committee on Federal Reserve Bank Affairs Governors Jerome H. Powell and Lael Brainard Board of Governors of the Federal Reserve System 20th Street and Constitution Avenue N.W. Washington, DC 20551 Re: ECCHO’s Request for a Competitive Impact Analysis Regarding Federal Reserve Bank Check Services Dear Governors Powell and Brainard: The Clearing House...
  • May 18, 2015
    May 18, 2015 By electronic delivery to: www.regulations.gov Monica Jackson Office of the Executive Secretary Consumer Financial Protection Bureau 1700 G Street NW Washington, DC 20552 Re: Request for Information Regarding Credit Card Market; Docket No. CFPB-2015-0007 Dear Ms. Jackson: The Financial Services Roundtable1 and the Consumer Bankers Association2 (the “Associations”) appreciate the...
  • May 15, 2015
    Washington, D.C. (May 15, 2015) – Richard Hunt, President and CEO of the Consumer Bankers Association (CBA), issued the following statement in response to the Department of Education’s new proposed regulations on college campus financial products. “Though today’s proposal seems to have improved from its original form, what is being veiled as pro-consumer reform is far from it and based on little...
  • April 24, 2015
    CFPB, FTC Bring Enforcement Action Against Green Tree Servicing On Wednesday, April 22, 2015, the CFPB and the Federal Trade Commission (FTC) entered into a preliminary consent agreement with Green Tree Servicing. The agencies allege the national mortgage servicer harmed distressed borrowers in violation of the Real Estate Settlement Procedures Act, the Fair Credit Reporting Act, and the Fair...
  • April 17, 2015
    MasterCard Reaches Tentative Agreement with Target for $19 million On Wednesday, an agreement was reached between MasterCard and Target to resolve claims related to Target's 2013 data breach. I am glad to see forward movement in the resolution of costs incurred as a result of the retailer's breach. Going forward, our chief mission should be to achieve a fair, reasonable and uniform data security...
  • April 10, 2015
    Bureau Issues Consent Order for Mortgage Advertisements On Thursday, April 9, 2015, the CFPB entered into a consent order with RMK Financial Corporation, also doing business as Majestic Home Loans, to resolve allegations of deceptive mortgage advertising. As a result of the order, RMK will be prohibited from falsely implying government affiliation in future advertisements and pay $250,000 in...
  • March 24, 2015
    Tired of hearing about data breaches and stolen credit card information? An executive at Fidelity National Information Solutions says you should expect more frequent attacks this year. Bob Legters, who works at the company’s St. Petersburg office, said Tuesday that criminals this year likely will increase attacks on businesses' servers that record payment information, because the payment industry...
  • March 23, 2015
    At CBA LIVE 2015 Gallup Reveals “Trust, Engagement and Exceptional Omnichannel” Consumer trust in security and technology is key to the adoption of technology channels and digital wallets Consumers “want it all,” with every physical and digital touchpoint important to customer engagement Distribution network and technology lag behind in driving perceived “excellent value”; consumers want a...
  • March 22, 2015
    The Consumer Bankers Association (CBA) will host nearly 1350 retail banking executives, including attendees from more than 65 national and regional banks at the Hilton Orlando Bonnet Creek in Orlando, FL from March 23 – 25, 2015, for CBA LIVE 2015: The Consumer Agenda, the premier annual conference for retail banking industry leaders. “With our biggest audience ever, this year’s CBA LIVE will...
  • March 20, 2015
    March 20, 2015 Via Electronic Delivery Monica Jackson Office of the Executive Secretary Bureau of Consumer Financial Protection 1700 G Street, N.W. Washington, D.C. 20552 Re: Docket No. CFPB-2014-0031, RIN: 3170-AA22 Dear Ms. Jackson, The Consumer Bankers Association (“CBA”) [1] and the Financial Services Roundtable (“FSR”) [2] [3] (together, the “Associations”) appreciate the opportunity to...

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