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Data security and, specifically, the safeguarding of personal financial information, are primary concerns for consumers and their banks. Banks have consistently been rated highly in surveys of consumer confidence regarding security of customer information, while continuing to develop innovative methods of fighting identity fraud. CBA supports national uniformity for information security rules, rather than allowing a patch-work of state and local laws and regulations. CBA advocates clear, uniform and flexible rules that will facilitate compliance and provide latitude for fraud experts at financial institutions to continue to create dynamic solutions to address the challenges of information security.
- May 24, 2019Fifth Third Bank recently revealed a fresh, hip design for its next-generation branch, to be used in all of its new, relocated or remodeled branch locations. The first next-generation branch opened last week inside the new Kroger Store in Green Township, Ohio. Say goodbye to teller lines and windows, say hello to informal meeting spaces and couches! Cajun Thoughts: CFPB APPOINTS PERMANENT DEPUTY...
- May 20, 2019CBA Calls on FinCEN to Collect Beneficial Ownership Information WASHINGTON – The Consumer Bankers Association today wrote Senate Banking Committee Chair Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio) requesting the committee pass legislation requiring the Financial Crimes Enforcement Network (FinCEN) collect beneficial ownership information for corporations and use the information...
- May 7, 2019 - 2:00PMPastMay 1, 2019CBA Calls for National Data Security, Breach Notification Standards Notes banks’ commitment to consumer privacy, low-rate of bank data breaches “Banks are on the front lines consistently monitoring for fraud and working to make consumers whole, no matter where a breach occurs … As a result, consumers rely on their financial institutions to communicate what to do in the event of a breach and to...May 15, 2018May 15, 2018 The Honorable Steve Pearce Chairman Subcommittee on Terrorism and Illicit Finance Committee on Financial Services U.S. House of Representatives 2432 Rayburn House Office Building Washington, D.C. 20515 The Honorable Ed Perlmutter Ranking Member Subcommittee on Terrorism and Illicit Finance Committee on Financial Services U.S. House of Representatives 1410 Longworth House Office...March 9, 2018The Honorable Mitch McConnell Majority Leader U.S. Senate S-230, U.S. Capitol Washington, D.C. 20510 The Honorable Charles Schumer Minority Leader United States Senate S-211, U.S. Capitol Washington, DC 20510 Dear Majority Leader McConnell and Minority Leader Schumer: On behalf of the Consumer Bankers Association (CBA), I write to express our support for S. 2155, the Economic Growth, Regulatory...March 6, 2018March 6, 2018 The Honorable Blaine Luetkemeyer Chairman Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit U.S. House of Representatives 2230 Rayburn House Office Building Washington, D.C. 20515 The Honorable Lacy Clay Ranking Member Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit U.S. House of Representatives 2428...January 3, 2018This report from KPMG LLP (KPMG) offers a high-level look at ten key regulatory challenges we believe will influence and impact the financial service industry in the coming year. The report also highlights the drivers behind these challenges and serves as a guide to actions financial services companies can take to address them. Click here to access the report: Ten Key Regulatory Challenges for...November 1, 2017November 1, 2017 The Honorable Blaine Luetkemeyer Chairman Subcommittee on Financial Institutions and Consumer Credit Washington, D.C. 20515 The Honorable William Lacy Clay Ranking Member Subcommittee on Financial Institutions and Consumer Credit Washington, D.C. 20515 Dear Chairman Luetkemeyer and Ranking Member Clay: Data security breaches continue to put millions of consumers at risk, and...October 18, 2017On Wednesday, October 18, 2017, the CFPB outlined principles for protecting consumers when they authorize third-party companies to access their financial data to provide certain financial products and services. These principles are intended to help foster the development of innovative financial products and services, increase competition in financial markets, and empower consumers to take greater...