Fraud & Cybersecurity
CBA supports strong national data protection and consumer notification standards with effective enforcement provisions that are applicable to any party with access to important consumer financial information. CBA members are already subject to robust data protection and notification standards and these requirements must be recognized. Inconsistent state laws and regulations should be preempted in favor of strong Federal data protection and notification standards. CBA firmly holds that all parties must share in protecting consumers and, as such, the costs of a data breach should ultimately be borne by the entity that incurs the breach. Protecting consumer data is a shared responsibility, and merchants must have the same tough data security standards as financial institutions to thwart hackers as well as the ability to accept chip-based cards.
June 5, 2019 - 2:00PMPast
May 20, 2019May 20, 2019 The Honorable Mike Crapo The Honorable Sherrod Brown Chairman Ranking Member Committee on Banking, Housing and Urban Committee on Banking, Housing and Urban Affairs Affairs 534 Dirksen Senate Office Building 534 Dirksen Senate Office Building Washington, D.C. 20510 Washington, D.C. 20510 Dear Chairman Crapo and Ranking Member Brown: On behalf of the Consumer Bankers Association (CBA...
May 1, 2019May 1, 2019 The Honorable Roger Wicker Chairman Committee on Commerce, Science, & Transportation 512 Dirksen Senate Office Building U.S. Senate Washington, D.C. 20510 The Honorable Maria Cantwell Ranking Member Committee on Commerce, Science, & Transportation 512 Dirksen Senate Office Building U.S. Senate Washington, D.C. 20510 Dear Chairman Wicker and Ranking Member Cantwell: On behalf...
April 17, 2019 - 12:30PMPast
April 16, 2019Application fraud is one of the most significant challenges for financial institutions, and fighting identity crimes remains an uphill battle as hackers use massive amounts of leaked data and innovative attack methods. This new Aite report reveals the growing losses to application fraud. Executives at more than 30 financial institutions provide deep insights into where the industry is headed and...
April 9, 2019To mark 100 years of helping finance the American dream, CBA's ambassadors gathered for leadership photos, including past and present board members and members of CBA's committees. It has been an incredible week in our nation’s capital, as we hosted CBA LIVE 2019 - the biggest event in its 10-year history. We welcomed nearly 1,600 attendees, including more than 750 senior banking leaders, and...
March 15, 2019CBA Calls for Uniform National Data Security Standard 93 percent of exposed records from non-financial institutions WASHINGTON, D.C. – The Consumer Bankers Association today wrote Senate Banking Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio) to offer feedback to the committee’s request for information on data privacy, protection and collection. CBA also called...
February 22, 2019CBA’s Fraud Working Group held their in-person meeting at CBA HQ this week. Participants discussed hot button business topics such as the use of Zelle and real time payments under Regulation E, bipartisan BSA/AML relief and issues around data security. The group also heard from sponsor FICO about global fraud and technology trends. Cajun Thoughts: CBA STUDENT LENDING ROLLOUT CBA Board Chairman...
November 29, 2018November 29, 2018 The Honorable Mike Crapo Chairman Committee on Banking, Housing, and Urban Affairs U.S. Senate 534 Dirksen Senate Office Building Washington, D.C. 20510 The Honorable Sherrod Brown Ranking Member Committee on Banking, Housing, and Urban Affairs U.S. Senate 534 Dirksen Senate Office Building Washington, D.C. 20510 Dear Chairman Crapo and Ranking Member Brown: On behalf of the...Pages
CBA Letter for the Record on Senate Banking Beneficial Ownership Hearing