Media Releases
April 28, 2023Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today released the following statement after the Government Accountability Office (GAO), Federal Reserve, and Federal Deposit Insurance Corporation (FDIC) released new reports examining the failures of Silicon Valley Bank and Signature Bank last month. "Today’s reports confirm there were a multitude of factors contributing to...
April 26, 2023The House Financial Services Committee today will vote on several legislative proposals that would deliver meaningful and long overdue reforms to the Consumer Financial Protection Bureau (CFPB). In a new letter sent to the Committee ahead of the markup, the Consumer Bankers Association (CBA) renewed support for legislation necessary to ensure the Bureau fulfills its responsibility of protecting...
April 25, 2023Throughout Financial Literacy Month, the Consumer Bankers Association (CBA) is highlighting how America’s leading banks are making banking easier and safer for consumers through digital banking innovations, real-time alerts, and security features to help combat scams and fraud. “During a time of economic uncertainty, we’re especially proud Americans value the convenience and security features...
April 20, 2023A new CNBC survey released last week found 58% of all Americans are now living paycheck to paycheck while 70% of the nation said they feel stressed about their finances due to ongoing economic headwinds. Even as a growing share of consumers are leaning on credit cards to afford increasingly expensive necessities such as food and rent, a recent CBA poll found nearly half are largely unaware of the...
April 18, 2023In a new Associated Press interview published this week, Consumer Bankers Association (CBA) President and CEO Lindsey Johnson expressed confidence in the strength of the banking industry following recent market uncertainty and offered insights into how bank leaders are preparing for the future. The wide-ranging conversation took place at CBA LIVE 2023, the first industry-wide gathering since the...
April 17, 2023Earlier this year, the Consumer Financial Protection Bureau (CFPB) announced a new proposal (a Notice of Proposed Rulemaking or NPRM) to lower the credit card late fee amount to $8. The proposal is part of the Administration’s misguided political campaign to conflate fees in unrelated industries as “junk.” On the surface, this proposal sounds good – no one likes “junk” – but the reality for...
April 11, 2023On Thursday, March 31, Consumer Financial Protection Bureau (CFPB) released a final rule to expand data collection requirements for financial institutions in the small business lending market under Section 1071 of the Dodd-Frank Act. Here’s an overview what you need to know, why it matters, how it will affect small business lending, and more: Consumer Bankers Association’s David Pommerehn...
April 10, 2023The Consumer Bankers Association (CBA) and Small Business Financial Exchange (SBFE) today released the Q4 2022 Small Business Lending Trends analysis , examining key credit information for America’s small businesses. The report reflects the ongoing economic headwinds impacting small business credit, including persistent inflation and interest rate hikes. Key Findings Delinquency increased...
April 10, 2023Nearly 2,000 of the industry’s top leaders recently gathered in Las Vegas for retail banking’s premier annual event – CBA LIVE 2023. From navigating digital innovations to preparing for all things CFPB and beyond, this year’s conference featured more than 70 hours of dynamic programming focused on the most pressing issues facing banks today. In a new highlight video, the Consumer Bankers...
April 5, 2023A new survey released today found 57% of Americans believe credit card late fees are legitimate and not so-called “junk,” as some have suggested, compared to fees found in other sectors of the economy, which only between 12% to 18% of Americans found to be legitimate. The survey, commissioned by the Consumer Bankers Association (CBA), also found nearly half of Americans (48%) are unaware of the...
