Media Releases
June 20, 2023Consumer Bankers Association (CBA) President and CEO Lindsey Johnson sat down with Capitol Account for a conversation about the direction of the Consumer Financial Protection Bureau (CFPB) and pressing policy issues facing the industry today, from credit card late fees to Section 1071, fraud, and more. The interview appeared in the outlet’s trademark “Friday Q&A” and comes ahead of Johnson’s...
June 16, 2023Lawmakers on both sides of the aisle and in both chambers of Congress this week joined the Consumer Bankers Association’s (CBA) call for the Consumer Financial Protection Bureau (CFPB) to be part of a whole-of-government investment in consumer education initiatives focused on scam identification and prevention. During CFPB Director Rohit Chopra’s Semi-Annual Report to the Senate Banking Committee...
June 12, 2023In new letters 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 fulfill the Bureau’s responsibility of protecting consumers and supporting a competitive financial...
June 9, 2023Washington Post FactChecker Glenn Kessler today published a column debunking claims made by Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra and President Joe Biden that consumers would save $9 billion as a result of a new proposal that would arbitrarily and uniformly reduce credit card late fees to $8. What the FactChecker is saying: Kessler found several inconsistencies with...
June 6, 2023Consumer Bankers Association (CBA) President and CEO Lindsey Johnson sat down with former journalist, IntraFi Chief Content Officer, and host of the popular banking podcast “Banking with Interest” Rob Blackwell for a candid conversation about the future of M&A, how proposals taking shape at the CFPB will affect the industry, and consumers and what steps Congress can take to ensure the CFPB...
June 6, 2023Consumer Bankers Association (CBA) President and CEO Lindsey Johnson issued the followed statement in anticipation of the re-introduction of legislation that would establish an unnecessary and unsafe federally-mandated payment network at the expense of fraud prevention, security measures, and popular rewards programs that are currently in place with existing payment networks: “Don’t let the name...
June 5, 2023A new report from the Financial Health Network examining the overdraftmarketplace reinforced the impact of bank-led innovation and consumers’ need for the product as they contend with ongoing economic headwinds. Key Findings: According to the report, which surveyed consumers about their overdraft experiences in 2022 and compared these findings to prior years: Aggregate fees from overdraft dropped...
June 1, 2023The Consumer Financial Protection Bureau (CFPB) today issued a report highlighting the potential harm fintech payment providers operating outside of the well-regulated and supervised banking system could cause consumers. The CFPB also issued a consumer advisory urging consumers to move funds stored on apps such as Venmo, PayPal, and CashApp, which may not be protected by insurance in the event of...
May 30, 2023The Consumer Bankers Association (CBA) and other leading financial trades today issued the following statement on the recently announced agreement to raise the federal debt ceiling: “We are encouraged that the Administration and Congressional leaders have reached a bipartisan agreement to raise the federal debt ceiling. America’s capital markets are the strongest, deepest, and most liquid in the...
May 25, 2023The Consumer Financial Protection Bureau (CFPB) this week released a new report underscoring the significant savings bank-led overdraft innovation has delivered consumers. What They’re Saying: Driven by a desire to meet evolving consumer demand, a growing share of America’s leading banks have unveiled innovative overdraft solutions designed to expand choice, strengthen transparency and lower...
