Media Releases
October 17, 2014CBA Statement on President’s Actions on Consumer Financial Security Washington, D.C. (October 17, 2014) – CBA’s President and CEO Richard Hunt issued the following statement in response to the planned announcement by President Barack Obama on several steps related to data security and consumer financial transactions: “We support the White House for recognizing the importance of protecting...
October 15, 2014Washington, D.C. (October 15, 2014) – CBA’s General Counsel Steve Zeisel issued the following statement in response to the Annual Report of the CFPB’s Student Loan Ombudsman: “The private student loan market is a small but integral part of how some students meet their education financing needs. With a sustained and incredibly low default rate of less than 3%, private student loans far outperform...
October 8, 2014Washington, D.C. (October 8, 2014) – CBA’s President and CEO Richard Hunt issued the following statement after CFPB Director Richard Cordray delivered remarks at a CFPB forum today which focused on checking accounts. “CBA strongly believes all U.S. consumers should have access to checking accounts with upfront fee disclosures and clear terms. Our members make every possible effort to open...
September 25, 2014Washington, D.C. (September 25, 2014) – The Consumer Bankers Association (CBA) and AOL Inc. (AOL) monthly Finance Optimism Index has found Americans’ financial optimism decreased to -7.0. This is a month-over-month drop of -4.0 points, bringing the Index to its lowest point in 2014. All four components of the Index, including perception of current and future finances as well as economic and...
September 24, 2014CBA Statement on Federal Student Loan Default Rate Washington, D.C. (September 24, 2014) – CBA’s President and CEO Richard Hunt issued the following statement after the U.S. Department of Education announced 13.7 percent of federal student loan borrowers defaulted within three years of repayment in fiscal year 2011. “It is clear from its abysmal 13.7 percent default rate the federal government...
September 23, 2014CBA Comments on Proposed Addition of Consumer Narratives to the CFPB Complaint Portal Washington, D.C. (September 23, 2014) – The Consumer Bankers Association (CBA) has written to the Consumer Financial Protection Bureau (CFPB) commenting on the Bureau’s proposed addition of consumer complaint narratives to the CFPB’s Consumer Complaint Portal. While CBA supports the Bureau’s ability to...
September 17, 2014CBA Statement on Proposed CFPB Rule on Auto Lenders Washington, D.C. (September 17, 2014) – CBA’s General Counsel Steve Zeisel issued the following statement after the Consumer Financial Protection Bureau (CFPB) released their proposed rule on larger participants in the auto lending market: “Today’s announcement by the CFPB will help to level the supervisory playing field between banks and other...
September 17, 2014Union Bank’s Tim Wennes Becomes Chair, Citi’s Will Howle Named Chair-Elect Washington, D.C. (September 17, 2014) – The Consumer Bankers Association (CBA) is pleased to announce Tim Wennes, West Coast President and Head of Retail Banking and Wealth Markets for MUFG Union Bank, as Chairman of the Board of Directors, leading CBA’s newly elected leadership for 2015. Wennes previously had been serving...
September 9, 2014Washington, D.C. (September 9, 2014) – In today’s global economy consumers can purchase products anywhere, at any time, online, or in person. Unfortunately, this means criminals have evolved as well. Consumers should be aware of cyber threats and remain vigilant in guarding their personal data. Data breaches may result in the compromising of credit or debit card information, in addition to...
September 8, 2014Website Tells the Story of the Private Student Loan Market Washington, D.C. (September 8, 2014) – The Consumer Bankers Association (CBA) today launched PrivateStudentLoanFacts.com, to help tell the story of the success of the private student loan market. The microsite provides useful statistics and data on private student loan performance, as well as a myth vs. fact section. Finally, there are...
