Media Releases
March 21, 2014Washington, D.C. (March 21, 2014) – Richard Hunt, president and CEO of the Consumer Bankers Association, issued the following statement in response to a decision made today by the United States Court of Appeals for the District of Columbia Circuit on the debit card interchange case - NACS v. Board of Governors of the Federal Reserve System: “Reasonable minds have prevailed in vacating the...
March 18, 2014Washington, D.C. (March 18, 2014) – The Consumer Bankers Association (CBA) will host over 1,100 retail banking executives, including attendees from 70 national and regional banks at the Gaylord National Resort & Conference Center at National Harbor, MD from March 30 – April 2, 2014, for CBA LIVE 2014: Red, White + Banking, the premier annual conference for retail banking industry leaders...
March 4, 2014Washington, D.C. (February 27, 2014) – Richard Hunt, president and CEO of the Consumer Bankers Association, issued the following statement in response to President Barack Obama’s FY 2015 Federal Budget proposal: “The banking industry plays an important role in our economy by extending credit to consumers and small businesses - it is time to end the demonization of banking. Hamstringing banks via...
February 27, 2014Washington, D.C. (February 27, 2014) – Richard Hunt, president and CEO of the Consumer Bankers Association, issued the following statement in response to Consumer Financial Protection Bureau Director Richard Cordray’s call for banks to “strongly consider” providing customers with FICO scores on a monthly basis: “CBA supports relevant efforts to expand consumer financial awareness and...
February 26, 2014Washington, D.C. (February 26, 2014) – Today, the American Bankers Association, the Consumer Bankers Association, the Financial Services Forum, Financial Services Roundtable, the Independent Community Bankers of America, the Institute of International Finance, the Mortgage Bankers Association, the Property Casualty Insurers Association of America, the Securities Industry and Financial Markets...
February 26, 2014Washington, D.C. (February 26, 2014) – Richard Hunt, president and CEO of the Consumer Bankers Association, issued the following statement in response to House Ways and Means Committee Chairman Dave Camp’s (R-MI) proposed tax legislation: “Chairman Camp's legislation sets a dangerous precedent by singling out an industry for additional taxation. However, it goes even further by picking winners...
February 18, 2014Washington, D.C. (February 18, 2014) – Financial institutions continue to respond to the massive data breach at Target. According to data collected by the Consumer Bankers Association (CBA) and the Credit Union National Association the costs associated with the Target data breech exceed $200 million. CBA estimates the cost of card replacements for its members to have reached $172 million, up from...
February 14, 2014Washington, D.C. (February 14, 2014) – Richard Hunt, president and CEO of the Consumer Bankers Association, released a statement regarding guidance issued today by the Financial Crimes Enforcement Network (FinCEN), in coordination with the U.S. Department of Justice (DOJ), that clarifies customer due diligence expectations and reporting requirements for financial institutions seeking to provide...
February 13, 2014Washington, D.C. (February 13, 2014) –Richard Hunt, president and CEO of the Consumer Bankers Association, issued the following statement upon the release of the U.S. Government Accountability Office’s (GAO) report on college debit cards: “The GAO’s report confirms campus-related products offered by depository institutions are better deals for students than non-campus-related accounts, especially...
February 13, 2014Washington, D.C. (February 13, 2014) – Today leading trade associations representing the merchant and financial services industries announced a new cybersecurity partnership. The partnership will focus on exploring paths to increased information sharing, better card security technology, and maintaining the trust of customers. Discussion regarding the partnership was initiated by the Retail...
