Media Releases
May 11, 2022Over the past year, a growing share of America’s leading banks have unveiled innovative overdraft solutions, providing customers greater choice and flexibility to make informed personal financial decisions. In Washington, leading regulators, legislators, and academics from across the political spectrum have recognized the positive impact these changes have had in the lives of the people we are...
May 5, 2022Consumer Bankers Association (CBA) President & CEO Richard Hunt today released the following statement after the Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released a joint notice of proposed rulemaking to reform the Community Reinvestment Act (CRA): “This is an important step towards modernizing a law that has not...
May 4, 2022Ahead of today’s Senate Judiciary Committee hearing examining interchange fees in the debit and credit card market, the Consumer Bankers Association (CBA) and other financial trades expressed shared opposition to any expansion of the Durbin Amendment. In a letter sent to Committee leadership and in written testimony submitted for the record, the groups outlined the harmful impact such efforts...
May 4, 2022Consumer Bankers Association (CBA) General Counsel and Senior Vice President, David Pommerehn, today testified before the Senate Banking Subcommittee on Financial Institutions and Consumer Protection during a hearing examining the overdraft marketplace. During the hearing, Pommerehn urged policymakers to recognize recent bank-led innovations and protect access to overdraft for the millions of...
May 3, 2022The Consumer Bankers Association (CBA) Board of Directors today announced Lindsey Johnson, President of U.S. Mortgage Insurers since 2015, will become CBA’s next President and CEO on July 5, 2022. “We are thrilled to announce Lindsey Johnson as CBA’s next President and CEO. From leading an industry association that works to expand access to homeownership to serving in senior leadership roles on...
May 3, 2022Tomorrow, Consumer Bankers Association (CBA) General Counsel and Senior Vice President, David Pommerehn, will testify before the Senate Banking Subcommittee on Financial Institutions and Consumer Protection for a hearing entitled, “ Examining Overdraft Fees and Their Effects on Working Families .” During the hearing, Pommerehn will focus on the following themes: Consumers Choose Overdraft For...
April 28, 2022In response to mischaracterizations regarding the industry’s position on efforts to expand small business data collection, the Consumer Bankers Association (CBA) submitted a Letter to the Editor in American Banker last Friday, reaffirming banks’ enduring commitment to expand access to credit in underserved communities. As CBA’s General Counsel and Senior Vice President David Pommerehn wrote: “...
April 25, 2022Consumer Bankers Association President and CEO Richard Hunt today released the following statement after the Consumer Financial Protection Bureau (CFPB) announced it will begin utilizing a previously dormant authority allowing the Bureau to conduct supervisory examinations of non-bank entities offering traditional bank products and services: “As the rise in banking activity outside our nation’s...
April 25, 2022In a new letter sent to the Senate Banking Committee and House Financial Services Committee ahead of the Consumer Financial Protection Bureau’s (CFPB) semi-annual report to Congress this week, the Consumer Bankers Association (CBA) outlined legislative and regulatory recommendations necessary to ensure the agency successfully delivers on its mission in the rapidly evolving banking marketplace...
April 21, 2022Responding to a recent investigation – which found users of the fintech Chime lost thousands of dollars while being locked out of their accounts – Senate Banking Committee Chair Sherrod Brown (D-OH) warned fintechs offering traditional bank products and services through online platforms may put consumers, and their hard-earned money, at risk. Despite competing for the same customers, fintechs are...
