Media Releases

Press Contact

Billy Rielly
brielly@consumerbankers.com
  • December 20, 2023
    WASHINGTON, D.C. – Consumer Financial Protection Bureau (CFPB) data demonstrates overdraft fees have substantially declined as banks innovate to meet evolving consumer needs. Yet the CFPB continues to move forward with a one-size-fits-all rulemaking that could require all overdraft services be treated as credit products under Regulation Z. The Consumer Bankers Association (CBA) has estimated* the...
  • December 19, 2023
    WASHINGTON, D.C. – Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today released the following statement in response to the Consumer Financial Protection Bureau’s (CFPB) press release regarding its new overdraft report: “The CFPB cut important corners today, because they rely on a study that is limited to consumers with credit histories. That means that as many as 10 percent...
  • December 18, 2023
    WASHINGTON, D.C. – CBA releases final ‘Facts Matter’ blog post in series to counter misinformation by CFPB press office . This is the final installment of the Consumer Bankers Association’s (CBA) “Facts Matter” series, which highlights the stark contrast between what the Consumer Financial Protection Bureau (CFPB) says in its press releases and what its research actually conveys. Prior blog posts...
  • December 18, 2023
    WASHINGTON, D.C. – In a new letter to the editor appearing Friday in American Banker , Consumer Bankers Association (CBA) Senior Vice President, General Counsel, and Head of Regulatory Affairs David Pommerehn outlined banks’ concerns with the Consumer Financial Protection Bureau’s (CFPB) Section 1071 rule, including the short implementation period given the complexity of the requirements for...
  • December 14, 2023
    WASHINGTON, D.C. – The Consumer Bankers Association (CBA) in a letter today voiced its support for the Rectifying UDAAP Act, which would better define the Consumer Financial Protection Bureau’s (CFPB) unfair, deceptive, and abusive acts or practices (UDAAP) authority. The legislation was introduced this week by House Financial Services Committee Financial Institutions and Monetary Policy...
  • December 13, 2023
    WASHINGTON, D.C. – As the Consumer Financial Protection Bureau (CFPB) prepares to release a proposed rule that could force banks into a one-size-fits-all approach to their highly-tailored overdraft products, it is critically important for policymakers to recognize the widespread overdraft reforms implemented by America’s leading banks over the last decade to meet evolving consumer demands. Here's...
  • December 11, 2023
    WASHINGTON, D.C. – The Consumer Bankers Association (CBA) today released the third installment of its “ Facts Matter ” blog post series that highlights the concerning regularity with which the Consumer Financial Protection Bureau’s (CFPB) press releases differ from their actual data. In October, the CFPB released its sixth report on the credit card market, as required by the Credit Card...
  • December 5, 2023
    WASHINGTON, D.C. – In recent years, America’s leading banks have unveiled a range of new overdraft products and policies to better meet the evolving demands of the consumers they serve. These bank-led innovations have bolstered a competitive marketplace and have already ushered in billions in consumer savings . Amidst this dramatic market evolution, the Consumer Financial Protection Bureau (CFPB...
  • November 28, 2023
    The second installment of the Consumer Bankers Association’s (CBA) “Facts Matter” blog series explains how the Consumer Financial Protection Bureau’s (CFPB) public statements can mislead market observers by painting an inaccurate picture of the credit card marketplace. As CBA illustrates below, the CFPB’s CARD Act Report actually appears to show a different, richer, story about credit card fees,...
  • November 27, 2023
    WASHINGTON, D.C. – The Consumer Bankers Association (CBA) today sent letters to the Senate Banking Committee and House Financial Services Committee ahead of the Consumer Financial Protection’s Bureau’s (CFPB) semi-annual report to Congress later this week outlining legislative and regulatory suggestions to lawmakers and the Bureau for the purpose of ensuring consumers continue to have access to...

Pages