Legislative Activity

  • May 12, 2022
    The Consumer Bankers Association (CBA) today released the following statement after the United States Senate confirmed Jerome Powell to serve a second term as Chairman of the Federal Reserve Board of Governors: “Congratulations to Jerome Powell on his Senate confirmation to serve a second term as Chairman of the Federal Reserve. Throughout the COVID-19 pandemic, Chairman Powell has worked in...
  • May 4, 2022
    Ahead of today’s Senate Judiciary Committee hearing examining interchange fees in the debit and credit card market, the Consumer Bankers Association (CBA) and other financial trades expressed shared opposition to any expansion of the Durbin Amendment. In a letter sent to Committee leadership and in written testimony submitted for the record, the groups outlined the harmful impact such efforts...
  • May 4, 2022
    Consumer Bankers Association (CBA) General Counsel and Senior Vice President, David Pommerehn, today testified before the Senate Banking Subcommittee on Financial Institutions and Consumer Protection during a hearing examining the overdraft marketplace. During the hearing, Pommerehn urged policymakers to recognize recent bank-led innovations and protect access to overdraft for the millions of...
  • May 3, 2022
    Tomorrow, Consumer Bankers Association (CBA) General Counsel and Senior Vice President, David Pommerehn, will testify before the Senate Banking Subcommittee on Financial Institutions and Consumer Protection for a hearing entitled, “ Examining Overdraft Fees and Their Effects on Working Families .” During the hearing, Pommerehn will focus on the following themes: Consumers Choose Overdraft For...
  • April 26, 2022
    Dear Chairman Brown and Ranking Member Toomey: The Consumer Bankers Association (CBA) submits the following comments for the hearing entitled “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.” We appreciate the Committee’s continued oversight of the Consumer Financial Protection Bureau (CFPB or Bureau) and its activities. CBA is the voice of the retail banking industry...
  • April 25, 2022
    In a new letter sent to the Senate Banking Committee and House Financial Services Committee ahead of the Consumer Financial Protection Bureau’s (CFPB) semi-annual report to Congress this week, the Consumer Bankers Association (CBA) outlined legislative and regulatory recommendations necessary to ensure the agency successfully delivers on its mission in the rapidly evolving banking marketplace...
  • April 21, 2022
    Responding to a recent investigation – which found users of the fintech Chime lost thousands of dollars while being locked out of their accounts – Senate Banking Committee Chair Sherrod Brown (D-OH) warned fintechs offering traditional bank products and services through online platforms may put consumers, and their hard-earned money, at risk. Despite competing for the same customers, fintechs are...
  • March 30, 2022
    In a new letter sent yesterday to the House Financial Services Subcommittee on Consumer Protection and Financial Markets, the Consumer Bankers Association (CBA) highlighted the bank-led overdraft innovations designed to meet evolving demand and cautioned against restricting a product millions of consumers knowingly use and value in times of need. The letter was sent ahead of a scheduled hearing...
  • March 4, 2022
    In a new letter sent today to the Senate Banking Committee ahead of a scheduled hearing next Tuesday, Consumer Bankers Association (CBA) President & CEO Richard Hunt urged Congress to reject any legislative proposal seeking to eliminate the ability of hardworking families to pursue arbitration agreements when settling claims disputes. Overwhelmingly, disputes between companies and their...
  • December 14, 2021
    Dear Senator Scott: On behalf of the Consumer Bankers Association (“CBA”), I write to express our strong support for S. 3382, which would prohibit the Administrator of the Small Business Administration (SBA) from directly making loans under the 7(a) loan program. This bill is vitally important as lawmakers continue to deliberate a proposal contained within the Build Back Better bill that would...

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