Media Releases
December 29, 2021Consumer Bankers Association President and CEO Richard Hunt today issued the following statement reflecting on the last year and looking ahead to 2022: “In spite of continued challenges, CBA over the last year was proud to deliver on behalf of our membership, whose unyielding commitment to the communities they serve has helped fuel America’s recovery, drive our nation’s economic growth and...
December 16, 2021Consumer Bankers Association President and CEO Richard Hunt today released the following statement after the Consumer Financial Protection Bureau (CFPB) issued a series of orders to collect information on the business practices of five fintech companies offering “buy now, pay later” (BNPL) credit, including: Affirm, Afterpay, Klarna, PayPal, and Zip. “It’s good to see the CFPB take this much-...
December 13, 2021In a new op-ed appearing tonight in The Hill ahead of the scheduled open meeting at the FDIC tomorrow, Consumer Bankers Association (CBA) President & CEO Richard Hunt explains why recent actions by Board Members at the FDIC, an agency which has operated openly and publicly for nearly 90 years, are so disconcerting not just for banks, but for the country at large. To read the full op-ed click...
December 10, 2021On Wednesday, Acting Comptroller of the Currency Michael Hsu spoke on the state of the overdraft market in the United States, highlighting the important need to provide safe and affordable short-term liquidity options for consumers within the well-regulated, well-supervised banking system. Amidst a renewed focus from policymakers on examining overdraft practices, Hsu’s observations and...
December 7, 2021In a new letter sent today to the Consumer Financial Protection Bureau (CFPB), the Consumer Bankers Association and the American Bankers Association (ABA) reiterated their shared commitment to advancing the Bureau’s mission of protecting all consumers in the rapidly evolving financial marketplace, regardless of where consumers go to meet their financial needs. The letter was sent in response to...
December 1, 2021Consumer Bankers Association President and CEO Richard Hunt today issued the following statement after the Consumer Financial Protection Bureau (CFPB) released new research examining overdraft and non-sufficient funds (NSF) fees among leading financial institutions: “The CFPB’s research fails to reflect the introduction of innovative products and services unveiled by America’s leading banks to...
November 30, 2021Consumer Bankers Association (CBA) President and CEO Richard Hunt today released the following statement in opposition to legislation re-introduced by members of the House of Representatives which would limit consumers’ access to credit by imposing an arbitrary cap on interest rates, harming low- and moderate-income communities most: “For millions of American families, small dollar loans, credit...
November 30, 2021Consumer Bankers Association President and CEO Richard Hunt today issued the following statement after the Federal Deposit Insurance Corporation (FDIC) released the Q3 2021 Quarterly Banking Profile : “The FDIC’s third quarter profile reaffirms the strength and resiliency of America’s leading banks who are helping drive our economic recovery forward. Positive deposit growth and improved credit...
November 27, 2021The Consumer Bankers Association (CBA), the International Franchise Association (IFA), the National Association of Women Business Owners (NAWBO) and the US Hispanic Chamber of Commerce (USHCC) are joining forces to celebrate America’s small businesses in advance of Small Business Saturday on November 27 as part of their joint campaign unveiled in May, the #SmallBusinessSpotlight . The campaign...
November 22, 2021Consumer Bankers Association President and CEO Richard Hunt today issued the following statement on the Biden Administration’s renomination of Jerome Powell to lead the Federal Reserve as Chair: “CBA commends Chair Powell on his renomination. During one of the most uncertain and challenging times in our nation’s history, Chair Powell’s leadership helped ensure the well-regulated and well-...
