Media Releases
July 24, 2013Washington, D.C. (July 24, 2013) – Richard Hunt, President and CEO of the Consumer Bankers Association, testified today before a hearing of the U.S. Senate Special Committee on Aging. The hearing focused on short-term liquidity products and their impact on consumers, particularly senior citizens. In his testimony, Hunt stated bank-offered deposit advance products play a valuable role in that they...
July 16, 2013Washington, D.C. (July 16, 2013) – CBA congratulates Richard Cordray and his family on being confirmed Director of the CFPB. For the past two years, CBA has worked closely with the Director and the Bureau to create a level playing field in the financial services sector. We will continue to work with Director Cordray to ensure consumers have access to financial products they determine meet their...
July 2, 2013Washington, D.C. (July 2, 2013) – CBA is pleased the Fed addressed our concerns regarding the complex residential mortgage risk-weighing calculations in their original proposal. In today’s economic environment, staying with current capital requirements for mortgages will help ensure consumers have access to affordable home loans and home equity products. CBA will continue to monitor regulatory...
June 24, 2013Washington, D.C. (June 24, 2013) – Today’s Supreme Court announcement on the Noel Canning v. NLRB case is a reminder the CFPB operates under a continuing cloud of uncertainty for consumers and the industry. Congress has the opportunity to take corrective measures to restructure the virtually unchecked power of the Bureau from one individual to a bi-partisan commission. For the past two years, CBA...
June 11, 2013Washington, D.C. (June 11, 2013) – The CFPB ought not adopt any policy that drives America’s families to unregulated industries with riskier and costlier alternatives. Consumers have the right to choose the products and features which best provide for their family’s daily financial needs. Fortunately, the marketplace for checking accounts is extremely competitive and banks make every effort to...
May 31, 2013Washington, D.C. (May 31, 2013) – The Consumer Bankers Association (CBA) Foundation, and Ashoka’s Youth Venture are excited to announce the 2013 “Banking on Youth” Grand Prize winner and the Audience Choice Award recipient: Grand Prize of $15,000: TGIF-Turn Grease Into Fuel, John Perino, RI Project “Turn Grease Into Fuel” (TGIF) is a sustainable system designed to collect waste cooking oil and...
May 30, 2013Washington, D.C. (May 30, 2013) – CBA appreciates the CFPB’s work with the industry on these issues to ensure that consumers have access to credit. We believe the rule changes, particularly regarding mortgage loan originator (MLO) compensation in the points and fees test, are a step in the right direction. Our major concern remains the impact of the overall rule on consumers and the amount of...
May 24, 2013Friday, May 24, 2013 – The Consumer Bankers Association (CBA) and BAI are pleased to announce 104 students from 34 leading financial services companies have been accepted as members of the freshman class at the Graduate School of Retail Bank Management (GSRBM), which takes place July 21-31, 2013. GSRBM equips rising stars with the vital skills and perspective to successfully navigate the...
May 8, 2013Washington, D.C. (May 8, 2013) – CBA supports responsible efforts to help families and students afford an education. Private student loans play a critical role and are based on an underwriting process that responsibly assesses a borrower’s ability to repay. Private loans make up about 7% of the market and continue to perform better than federal student loans, which have a three-year default rate...
May 1, 2013Washington, D.C. (May 1, 2013) – Statement of Richard Hunt, President and CEO, Consumer Bankers Association in response the CFPB’s final rule on Remittances, also known as International Monetary Transfers: “CBA commends the CFPB on its willingness to work with the industry to address the serious concerns voiced by the retail banking sector. As a result, the changes made to the final rule will...
