Media Releases
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...
November 16, 2022Today, at CBA’s 2022 Washington Forum, lawmakers, former regulators, industry experts, and the CBA Team weighed in on the most pressing policy issues affecting retail banks. From crypto, digitization, fintechs, and all things CFPB, the virtual event featured seven sessions and more than 20 speakers focused on what’s happening and what’s to come amidst a rapidly changing bank landscape and...
November 10, 2022America’s leading banks have increasingly unveiled new overdraft innovations to provide consumers even greater choice and flexibility to make informed financial decisions. As new research from the Brookings Institute recently found – the monetary impact of these new products and polices on consumers is significant – with combined savings reaching roughly $5 billion a year. In a new paper...
October 27, 2022Consumer Bankers Association (CBA) President & CEO Lindsey Johnson today issued the following statement after the Consumer Financial Protection Bureau (CFPB) released an outline of proposals and alternatives under consideration for the Bureau’s data rights rulemaking to implement section 1033 of the Dodd-Frank Act: “CBA long has supported expanding consumers’ access and control of their...
October 26, 2022Consumer 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...
