CBA Statement On New CFPB Bank Fee Guidance

October 26, 2022

Consumer Bankers Association (CBA) President & CEO Lindsey Johnson today issued the following statement after the Consumer Financial Protection Bureau (CFPB) released new guidance concerning bank fees: 

“The nation’s largest banks have introduced new, innovative products and policies designed to provide consumers greater choice, transparency, and control of their money. These changes were made without regulatory or legislative intervention. The reality is that America’s leading banks are required by law to clearly disclose fees charged for all products and services they provide consumers. As the nation grapples with continued economic uncertainty, it is imperative that hardworking families have access to safe and affordable financial tools to meet their needs.”