Media Releases
June 16, 2022In response to a new Request for Information , launched earlier this week by the Consumer Financial Protection Bureau (CFPB), regarding customer service experiences at large financial institutions, Consumer Bankers Association (CBA) President and CEO Richard Hunt reiterated consumers’ satisfaction with America’s leading banks, which continue to develop new financial innovations to enhance the...
June 13, 2022In a new letter sent today to the House Committee on Financial Services, Consumer Bankers Association (CBA) President & CEO Richard Hunt reiterated longstanding opposition to H.R. 4277, legislation that would restrict access to overdraft for millions of hardworking families who knowingly use and value the product. In the letter , CBA also highlighted the recent bank-led overdraft innovations...
May 24, 2022Consumer Bankers Association President and CEO Richard Hunt today issued the following statement after the Federal Deposit Insurance Corporation (FDIC) released the Q1 2022 Quarterly Banking Profile: “Despite historic inflationary pressures and global uncertainty, the FDIC’s Q1 2022 Quarterly Banking Profile demonstrates the resiliency of America’s leading banks and the millions of consumers they...
May 23, 2022Driven by consumer demand and a desire to provide the best banking experience available – whether at a branch or on an app – the banking industry is in the midst of a dramatic digital transformation. In this third edition of Driving the Digital Revolution – CBA is highlighting recent initiatives from Citizens Bank, Frost Bank, KeyBank and Wells Fargo designed to enhance their digital offerings...
May 19, 2022In a new letter sent to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, the Consumer Bankers Association (CBA) called on the Bureau to extend its supervisory authority in specific markets where under-regulated fintechs hold a significant share. Last month, the CFPB announced it will begin utilizing a previously “dormant authority” allowing them to conduct supervisory...
May 12, 2022The Consumer Bankers Association (CBA) today released the following statement after the United States Senate confirmed Jerome Powell to serve a second term as Chairman of the Federal Reserve Board of Governors: “Congratulations to Jerome Powell on his Senate confirmation to serve a second term as Chairman of the Federal Reserve. Throughout the COVID-19 pandemic, Chairman Powell has worked in...
May 11, 2022Over the past year, a growing share of America’s leading banks have unveiled innovative overdraft solutions, providing customers greater choice and flexibility to make informed personal financial decisions. In Washington, leading regulators, legislators, and academics from across the political spectrum have recognized the positive impact these changes have had in the lives of the people we are...
May 5, 2022Consumer Bankers Association (CBA) President & CEO Richard Hunt today released the following statement after the Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released a joint notice of proposed rulemaking to reform the Community Reinvestment Act (CRA): “This is an important step towards modernizing a law that has not...
May 4, 2022Ahead of today’s Senate Judiciary Committee hearing examining interchange fees in the debit and credit card market, the Consumer Bankers Association (CBA) and other financial trades expressed shared opposition to any expansion of the Durbin Amendment. In a letter sent to Committee leadership and in written testimony submitted for the record, the groups outlined the harmful impact such efforts...
May 4, 2022Consumer Bankers Association (CBA) General Counsel and Senior Vice President, David Pommerehn, today testified before the Senate Banking Subcommittee on Financial Institutions and Consumer Protection during a hearing examining the overdraft marketplace. During the hearing, Pommerehn urged policymakers to recognize recent bank-led innovations and protect access to overdraft for the millions of...
