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.
November 10, 2015Washington, D.C. (November 10, 2015) – In honor of the service and sacrifice our nation’s active duty service members, veterans and their families, the retail banking industry has committed to a number of programs to help them as they continue their missions or transition to civilian life. These programs include job training and hiring, small business funding, affordable housing, and financial...
October 16, 2015October 16, 2015 The Honorable Steve Chabot The Honorable Nydia Velazquez Chairman Ranking Member Committee on Small Business Committee on Small Business Washington, D.C. 20515 Washington, D.C. 20515 Dear Chairman Chabot and Ranking Member Velazquez: On behalf of the 14,000 banks and credit unions of all sizes that are taking on criminal hackers by issuing payment cards with highly secure “EMV”...
October 15, 2015October 15, 2015 Dear Representative: Well publicized data breaches have rightly focused Congress’s attention on consumer data security, and as we transition to the use of EMV “chip” payment cards, many in Congress have again focused on this issue. We are proud to be leading the way to achieve a safer and more secure payment system, and the adoption of EMV technology is an important part of that...
July 1, 2015July 1, 2015 Via Electronic Delivery Robert deV. Frierson, Secretary, Board of Governors of the Federal Reserve System 20th Street and Constitution Avenue NW. Washington, DC 20551. Re: Docket No. OP-1515; Enhancements to Federal Reserve Bank Same-Day ACH Service; Request for Comments Dear Mr. Frierson: The Clearing House Association L.L.C., the American Bankers Association, the Consumer Bankers...
June 8, 2015June 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, 2015May 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, 2015Washington, 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, 2015CFPB, 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, 2015MasterCard 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...
Joint Financial Institutions Statement for the Record on EMV