CBA Statement on GAO College Debit Card Report

February 13, 2014

Washington, 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 those products offered by non-banks. Arrangements with banks often benefit students and schools by offering reduced costs, convenience of use and valuable financial education.  CBA member banks that have relationships with colleges and universities offer students products with transparent terms and the freedom to choose the products and services they use.”

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.