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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 7, 2016Online banking continues to grow, but that’s not to say there aren’t obstacles keeping it from exploding. The banking industry is ramping up the noise about changing rules that make it difficult to open accounts remotely, and Congress has the topic on its agenda. In fact, the Consumers Bankers Association recently sent a letter to Congress, applauding them for its efforts to tackle the issue with...
- November 4, 2016November 4, 2016 The Honorable Scott Tipton The Honorable Terri Sewell U.S. House of Representatives U.S. House of Representatives 218 Cannon House Office Building 1133 Longworth House Office Building Washington, DC 20515 Washington, DC 20515 The Honorable Randy Hultgren U.S. House of Representatives 2455 Rayburn House Office Building Washington, DC 20515 Dear Representatives Tipton, Sewell and...
- November 4, 2016Washington, D.C. – The Consumer Bankers Association (CBA) today sent a letter to members of Congress, applauding them for introducing H.R. 6287, the Making Online Banking Initiation Legal and Easy (MOBILE) Act of 2016 . Led by Representatives Scott Tipton (CO-03), Randy Hultgren (IL-14) and Terri Sewell (AL-07), the MOBILE Act promotes financial inclusion and consumer access to safe and well-...
- November 4, 2016Election 2016: What It Means For Retail Banking With the election just days away, we’ll need to start getting used to saying President Trump or President Clinton. Be sure to join Team CBA on Wednesday, November 9, 2016 at 3:30 p.m. Eastern for a 60-minute members-only webinar to get an inside look at the 2016 election and its impact on retail banks. Will there be key leadership changes in the...
- November 2, 2016On Wednesday, November 2, 2016, the OCC released a list of Community Reinvestment Act (CRA) performance evaluations which became public during the period of October 1, 2016 through October 31, 2016. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. Of the 33 evaluations made public this month, two are...October 21, 2016Time to Revamp the CFPB Structure Last week, a federal court decided a sitting president could immediately remove a CFPB director on a whim. This decision is concerning as it subjects the Bureau to political pressures by placing its directorship under the thumbprint of the president. In response, I penned an op-ed in USA Today calling for a five-person, bipartisan commission at the CFPB. With...October 20, 2016On Thursday, October 20, 2016, the FDIC released its annual National Survey of Unbanked and Underbanked Households for 2015. The agency held a corresponding event to release the report and discuss its findings, which showed: Seven percent of U.S. households are unbanked and almost 20 percent are underbanked, which means the consumer has a bank account, but used an alternative financial service...October 11, 2016On Tuesday, October 11, 2016, CBA and other trades submitted a comment letter to the Federal Reserve Board in response to recently issued questions and proposed revisions to the biannual debit card issuer survey. The Board collects certain information to facilitate the its ongoing administration of Section 920(a) of the Electronic Fund Transfer Act and related Federal Reserve Board Regulation II...October 11, 2016As generations mature and innovation drives new payments methods, how are preferences and needs evolving? The quarterly consumer trends survey from Fiserv provides answers and insights that financial institutions, billers and other providers can use to understand consumer needs to drive adoption, satisfaction and long-term profitable relationships. Key findings include: consumers overwhelmingly...October 11, 2016October 11, 2016 Robert deV. Frierson Secretary Board of Governors of the Federal Reserve System 20th Street and Constitution Avenue, N.W. Washington, D.C. 20551 Re: Proposed Agency Information Collection Activities; Comment Request: Proposed Revision to Regulation II Debit Card Issuer Survey (FR 3064a) and Request for Comment on Information Collection Proposal Dear Mr. Frierson: The Board of...