Media Releases

Press Contact

Nick Simpson
nsimpson@consumerbankers.com
202-552-6371
  • February 18, 2014
    Washington, D.C. (February 18, 2014) – Financial institutions continue to respond to the massive data breach at Target. According to data collected by the Consumer Bankers Association (CBA) and the Credit Union National Association the costs associated with the Target data breech exceed $200 million. CBA estimates the cost of card replacements for its members to have reached $172 million, up from...
  • February 14, 2014
    Washington, D.C. (February 14, 2014) – Richard Hunt, president and CEO of the Consumer Bankers Association, released a statement regarding guidance issued today by the Financial Crimes Enforcement Network (FinCEN), in coordination with the U.S. Department of Justice (DOJ), that clarifies customer due diligence expectations and reporting requirements for financial institutions seeking to provide...
  • February 13, 2014
    Washington, D.C. (February 13, 2014) –Richard Hunt, president and CEO of the Consumer Bankers Association, issued the following statement upon the release of the U.S. Government Accountability Office’s (GAO) report on college debit cards: “The GAO’s report confirms campus-related products offered by depository institutions are better deals for students than non-campus-related accounts, especially...
  • February 13, 2014
    Washington, D.C. (February 13, 2014) – Today leading trade associations representing the merchant and financial services industries announced a new cybersecurity partnership. The partnership will focus on exploring paths to increased information sharing, better card security technology, and maintaining the trust of customers. Discussion regarding the partnership was initiated by the Retail...
  • February 11, 2014
    Washington, D.C. (February 11, 2014) – The American Bankers Association, Consumer Bankers Association, Credit Union National Association, the Independent Community Bankers of America, and the National Association of Federal Credit Unions, issued the following statement in response to the National Retail Federation (NRF) media briefing on data and payment card security: “Once again, the NRF is...
  • February 6, 2014
    Breach Costs Continue to Mount, while Retailers Deflect Blame Washington, D.C. (February 6, 2014) – In response to the recent data breach at Target, the Consumer Bankers Association’s (CBA) member banks have proactively responded by reissuing over 17.2 million debit and credit cards to date at a cost to them of over $172 million. This is an increase from the initial round of 15.3 million card...
  • February 5, 2014
    Joint Trades’ Memos to Congress Advocates for Retailer Accountability Washington, D.C. (February 5, 2014) – The Consumer Bankers Association (CBA) has teamed up with fellow financial services trade associations to set the record straight on the recent retailer data breaches. In memos to the House and Senate the industry associations wrote: “Target and Neiman Marcus have testified before the House...
  • February 4, 2014
    Retailers Must Take Responsibility for their Costs Washington, D.C. (February 4, 2014) – The Consumer Bankers Association (CBA) is responding to the recent data breaches at retailers by calling for increased protections for consumers and greater responsibility on the part of retailers. CBA joined fellow financial services trade associations in writing to several House and Senate committees...
  • February 4, 2014
    Washington, D.C. (February 4, 2014) – Today, Consumer Bankers Association president and CEO Richard Hunt appeared on FOX Business Network’s Markets Now to discuss the latest issues facing the retail banking industry, including disruptors like Bitcoin and the latest in the data breaches at retailers such as Target and Nieman Marcus. About CBA The Consumer Bankers Association (CBA) is the trade...
  • January 28, 2014
    Cost of Target’s Mistake: $153 Million…and Counting Washington, D.C. (January 28, 2014) – The Consumer Bankers Association’s member banks have proactively responded to the breach of consumer data caused by retail giant Target, by reissuing over 15.3 million debit and credit cards to date at a cost to them of over $153 million. In addition to reissuing cards, member banks have enhanced transaction...

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