CBA Calls for Focus on College Affordability Following Warren Bill Failure

Washington, D.C. (June 11, 2014) – Richard Hunt, President and CEO of the Consumer Bankers Association (CBA), released the following statement calling on Congress to focus on college affordability after Sen. Elizabeth Warren’s (D-MA) refinancing bill failed a cloture vote 56-38:

“Private student borrowers have real options. Many private student lenders provide refinancing programs and others are introducing programs in the near future. Our banks are committed to helping America’s students succeed by verifying their ability to repay loans and offering programs to help them in times of need. We hope this prompts Sen. Warren and others in Congress to draw their attention to the real issue of college affordability, with tuition prices having risen 1,100% since 1980.”

About CBA
The Consumer Bankers Association (CBA) is the trade association for today's leaders in retail banking - banking services geared toward consumers and small businesses. The nation's largest financial institutions, as well as many regional banks, are CBA corporate members, collectively holding two-thirds of the industry's total assets. CBA’s mission is to preserve and promote the retail banking industry as it strives to fulfill the financial needs of the American consumer and small business.

The Consumer Bankers Association is the recognized voice on retail banking issues in the nation’s capital. Founded in 1919, CBA provides leadership, education, research and federal representation on retail banking issues. For more information, please contact Tom Crosson, tcrosson@consumerbankers.com, (703) 869-1246 or visit www.consumerbankers.com.