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Pew Study Shows Banks Transparent on Overdraft
Washington, D.C. (May 12, 2015) – Richard Hunt, President and CEO of the Consumer Bankers Association (CBA), issued the following statement in response to a 2015 Pew report entitled, “Checks and Balances.”
“Consumer choice is paramount in our industry, and CBA believes customers should be able to decide how best to meet their short-term funding needs. As Pew highlights in its 2015 report, 100% of banks surveyed clearly disclosed overdraft fees. We will continue to work with Pew and others to ensure consumers are informed when making their individual financial decisions,” said CBA’s President and CEO Richard Hunt.
The Consumer Bankers Association (CBA) is the trade association for today's leaders in retail banking - banking services geared toward consumers and small businesses. The nation's largest financial institutions, as well as many regional banks, are CBA corporate members, collectively holding two-thirds of the industry's total assets. CBA’s mission is to preserve and promote the retail banking industry as it strives to fulfill the financial needs of the American consumer and small business.
The Consumer Bankers Association is the recognized voice on retail banking issues in the nation’s capital. Founded in 1919, CBA provides leadership, education, research and federal representation on retail banking issues. For more information, please contact Maggie Seidel, firstname.lastname@example.org, (571) 447-0197 or visit www.consumerbankers.com.