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.
March 22, 2022This Friday, the Consumer Financial Protection Bureau (CFPB) will receive input from stakeholders in response to its December Request For Information (RFI) on the business practices of leading fintech companies offering “buy now, pay later” (BNPL) credit. Here’s what’s happening, why it matters, what they’re saying and how the CFPB can help promote a safe and competitive BNPL marketplace. What’s...
February 24, 2022This morning, Citigroup became the latest bank to announce sweeping changes to their overdraft policies, joining a growing share of CBA members who have unveiled innovative overdraft solutions to meet evolving consumer demands. As a result, families now benefit from the ability to choose a financial institution within the highly competitive banking industry that offers the financial tools that...
January 26, 2022Consumer Bankers Association (CBA) President and CEO Richard Hunt today released the following statement after the Consumer Financial Protection Bureau (CFPB) launched a new initiative examining fees charged by banks and financial companies: “This is fuzzy math at its best and political theater at its worst, and another attempt by the Bureau to fearmonger without any credible data to back it up...
December 15, 2021 - 1:00PMPast
November 3, 2021 - 1:00PMPast
Pages
CBA Comment Letter on BNPL RFI