Media Releases
May 3, 2022Tomorrow, Consumer Bankers Association (CBA) General Counsel and Senior Vice President, David Pommerehn, will testify before the Senate Banking Subcommittee on Financial Institutions and Consumer Protection for a hearing entitled, “ Examining Overdraft Fees and Their Effects on Working Families .” During the hearing, Pommerehn will focus on the following themes: Consumers Choose Overdraft For...
May 3, 2022The Consumer Bankers Association (CBA) Board of Directors today announced Lindsey Johnson, President of U.S. Mortgage Insurers since 2015, will become CBA’s next President and CEO on July 5, 2022. “We are thrilled to announce Lindsey Johnson as CBA’s next President and CEO. From leading an industry association that works to expand access to homeownership to serving in senior leadership roles on...
April 28, 2022In response to mischaracterizations regarding the industry’s position on efforts to expand small business data collection, the Consumer Bankers Association (CBA) submitted a Letter to the Editor in American Banker last Friday, reaffirming banks’ enduring commitment to expand access to credit in underserved communities. As CBA’s General Counsel and Senior Vice President David Pommerehn wrote: “...
April 25, 2022Consumer Bankers Association President and CEO Richard Hunt today released the following statement after the Consumer Financial Protection Bureau (CFPB) announced it will begin utilizing a previously dormant authority allowing the Bureau to conduct supervisory examinations of non-bank entities offering traditional bank products and services: “As the rise in banking activity outside our nation’s...
April 25, 2022In a new letter 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 ensure the agency successfully delivers on its mission in the rapidly evolving banking marketplace...
April 21, 2022Responding to a recent investigation – which found users of the fintech Chime lost thousands of dollars while being locked out of their accounts – Senate Banking Committee Chair Sherrod Brown (D-OH) warned fintechs offering traditional bank products and services through online platforms may put consumers, and their hard-earned money, at risk. Despite competing for the same customers, fintechs are...
April 13, 2022A new bipartisan report from the U.S. Government Accountability Office (GAO) found regulatory uncertainty around small-dollar loans served as a significant impediment towards banks’ ability to offer these products. The report, commissioned by U.S. Senators Gary Peters (D-MI) and Mike Rounds (R-SD), reaffirmed CBA’s longstanding position that excessive and ever-changing regulation stifles...
April 11, 2022In response to the Consumer Financial Protection Bureau’s (CFPB) Request For Information (RFI) regarding fees charged by banks, the Consumer Bankers Association (CBA) in a new letter sent today highlighted the choice and transparency afforded to consumers within the highly competitive and well-regulated banking industry, while also rebutting misleading rhetoric that undermines the work of both...
April 7, 2022This week marks two years since the opening of the Paycheck Protection Program (PPP), an entirely new federal program introduced at the start of the COVID-19 pandemic to support small businesses amidst an unprecedented public health and economic crisis. Working in tandem with the Small Business Administration (SBA) America’s leading banks helped ensure the program’s success. In a new statement...
April 5, 2022The Consumer Bankers Association (CBA) and Small Business Financial Exchange (SBFE) today released the Q4 2021 Small Business Lending Trends analysis,examining key credit information for America’s small businesses. The report found even as traditional metrics slowly return to a more “normal state,” supply chain disruptions, labor shortages, and historic levels of inflation continue to negatively...
