Media Releases
- March 8, 2024The Consumer Bankers Association (CBA) today announced that it is jointly pursuing legal action with five other leading business groups against the Consumer Financial Protection Bureau (CFPB) in issuing its final rule to unilaterally and arbitrarily limit the safe harbor amount for overdue credit card payments. The complaint will be followed by a motion for preliminary injunction requesting...
- March 7, 2024WASHINGTON, D.C. – Testifying before the U.S. House Financial Services Committee today at a hearing entitled “Politicized Financial Regulation and its Impact on Consumer Credit and Community Development,” Consumer Bankers Association (CBA) President and CEO Lindsey Johnson conveyed the need for financial regulators to focus on sound policy, not partisan politics, when developing rules that impact...
- March 6, 2024WASHINGTON, D.C. – Ahead of President Biden’s State of the Union address and her testimony before the U.S. House Financial Services Committee tomorrow, Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today penned an op-ed on the need for financial regulatory policy to be guided by sound policy, not partisan politics. To read the full piece, click HERE or continue reading...
- March 6, 2024March is Women’s History Month, and the Consumer Bankers Association (CBA) is proud to share the incredible leaders of our industry, and the many ways America’s leading retail banks develop the next generation of women leaders as well as support female entrepreneurs in their business ventures. This first installment features BMO Bank, Citizens, Synovus Bank, and Old National Bank – which share...
- March 5, 2024Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today released the following statement regarding the final rule issued by the Consumer Financial Protection Bureau (CFPB) limiting the safe harbor amount credit card issuers can charge consumers for late payments. The safe harbor thresholds were previously set by the Federal Reserve Board in its sweeping reforms of the credit...
- March 4, 2024WASHINGTON, D.C. – The Consumer Bankers Association (CBA) today announced President and CEO Lindsey Johnson will testify before the U.S. House Financial Services Committee’s Financial Institutions and Monetary Policy Subcommittee on Thursday, March 7. Additional details are below. WHO: CBA President and CEO Lindsey Johnson WHAT: U.S. House Financial Service Committee’s Financial Institutions and...
- March 1, 2024WASHINGTON, D.C. – A recent working paper from the Federal Reserve has been increasingly cited by critics of credit cards – particularly credit cards that offer rewards. The authors, who include an economist at the Federal Reserve, use expansive and bold language, claiming that their analysis “contributes to the literature that highlights the role of the financial system in driving wealth...
- February 29, 2024WASHINGTON, D.C. – Earlier this month, the Consumer Financial Protection Bureau (CFPB or Bureau) published a comparison of credit card annual percentage rates (APRs) between large and small credit card issuers. As the Consumer Bankers Association (CBA) previously discussed , while the Bureau focuses solely on APRs, credit issuers compete on a number of different dimensions: their ability to...
- February 26, 2024This Black History Month, the Consumer Bankers Association (CBA) is proud to highlight the many ways in which America’s leading retail banks have worked to empower Black entrepreneurs and communities to build successful businesses and brighter futures, not just in February, but all year long. The final installment in CBA’s Black History Month Blog series features the work of banks to support...
- February 22, 2024Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today responded to the latest misleading narrative from the Consumer Financial Protection Bureau (CFPB) related to the robustly competitive credit card market: “The CFPB claims that rising credit card interest rates over the past decade have been against a background of a ‘relatively stable share of cardholders with subprime...