Media Releases
January 18, 2023Next week, the Consumer Financial Protection Bureau (CFPB) will receive input from stakeholders on the Bureau’s outline of proposals to implement Section 1033 of the Dodd-Frank Act. Once finalized, the regulation will have wide-ranging implications for the safety and security of consumers’ personal financial data. Here’s what’s happening, why it matters, and what policymakers must consider to get...
January 12, 2023The Consumer Bankers Association (CBA) and Small Business Financial Exchange (SBFE) today released the Q3 2022 Small Business Lending Trends analysis , examining key credit information for America’s small businesses. While the report found that metrics for the period are returning closer to pre-pandemic levels, external factors including consistent rate increases continue to impact lending...
January 10, 2023As banks continue leading efforts to fight fraud across the industry, Consumer Bankers Association (CBA) President and CEO Lindsey Johnson in a new letter urged Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra to work in tandem with the banks to protect consumers from increasingly prevalent and sophisticated financial scams across peer-to-peer (P2P) payment platforms. As part of...
January 9, 2023The Consumer Bankers Association (CBA) reiterated opposition in a new letter to a proposal from the U.S. Small Business Administration (SBA) that would lift the moratorium on the number of non-federally regulated depository institutions that can make loans under the agency’s signature 7(a) lending program. The letter was sent in response to SBA’s request for comments to the agency’s proposed rule...
December 22, 2022A growing share of consumers are increasingly utilizing peer-to-peer (P2P) payment networks to send and receive money – with the number of real-time transactions expected to nearly triple by 2026. At the same time, fraudsters are increasingly executing sophisticated scams targeted towards unknowing users of these mobile apps. This holiday season, the Consumer Bankers Association (CBA) is...
December 14, 2022In a new letter sent to the House Financial Services and Senate Banking Committees ahead of the Consumer Financial Protection Bureau’s (CFPB) semi-annual report to Congress, the Consumer Bankers Association (CBA) outlined legislative and regulatory recommendations intended to protect and expand consumers’ access to the financial tools they rely on to meet their needs. Since the Bureau’s inception...
December 13, 2022A new poll released today by the Consumer Bankers Association (CBA) found that Americans believe Congress and the CFPB need to do more to ensure large fintech and crypto firms are subject to increased oversight by federal regulators. The poll, conducted among US adults earlier this month, also found that when it comes to protecting their money, consumers overwhelmingly trust banks over these...
December 7, 2022Last week, the House Select Subcommittee on the Coronavirus Crisis, following a months-long and ongoing investigation, released a report examining the depth and breadth of fraud and abuse from fintech firms participating in the Paycheck Protection Program (PPP). Specifically, the Select Subcommittee found these firms reaped “billions in fees from taxpayers while becoming easy targets for those...
November 30, 2022In a new op-ed published this morning in American Banker, CBA President and CEO Lindsey Johnson outlines the tangible steps policymakers in Washington can take to support and protect consumers and small businesses amidst ongoing economic uncertainty. The recommendations made in the piece reflect some of the top policy priorities for the CBA membership heading into the new year, including:...
November 29, 2022Following Small Business Saturday, the Consumer Bankers Association (CBA) is celebrating America’s small businesses and the bankers helping them to thrive amidst ongoing economic uncertainty. Representing the nation’s leading retail banks, CBA members provide more than half of all small business loans in the country. Today and continuing throughout this holiday season, CBA is releasing new...
