Consumer Bankers Urge Lawmakers to Pass Plain-Language Loan Disclosures

The Consumer Bankers Association (CBA) is urging lawmakers to support the Student Loan Disclosure Modernization Act, which would require federal student loans to carry plain-language disclosures on the true cost of the loan.

CBA’s Hunt backs fair, consistent regulation

When it comes to shaping the regulatory and business environment to best serve the needs of banks and consumers, shortsightedness and lack of consistency may be two of the greatest obstacles facing the financial industry today.

Shutdown highlighted need for bank-backed small-dollar loans


  • A tremendous amount of attention rightfully was given to the financial hardships furloughed employees faced during the month-long partial shutdown of the federal government. I am proud to say banks proactively stepped up to the plate. But that did not stop the letters from Congress inquiring how financial institutions were helping furloughed workers — despite efforts being well underway long before politicians weighed in.


The shutdown has ended, yet some small businesses still struggle to move on

The Consumer Bankers Association pegged the tally of outstanding loans at about 300 for each day of the shutdown, or about $2 billion in lending, according to a letter it sent to President Donald Trump and Congressional leaders Jan. 22. "Small business is going to be the first place you're going to see the impact of the shutdown, because a lot of these loans stop as soon as the shutdown occurs," said David Pommerehn, associate general counsel and senior vice president at the Consumer Bankers Association.

Consumer Bankers Association weighs in on small-dollar lending

The Consumer Bankers Association (CBA) maintains actions by federal regulators unfavorably impact small-dollar lending consumers by forcing them to payday lenders and other less regulated sources when in need.

Industry group urges reopening of SBA, citing impact of shutdown

The shutdown is keeping the agency from approving about 300 loans per day, according to CBA President Richard Hunt.

What bankers want from CRA reform

Congress enacted the Community Reinvestment Act in 1977 to ensure banks continued serving the financial needs of their communities. Through CRA and other projects, banks are now investing more than a $100 billion each year into low- and moderate-income neighborhoods.

Robinhood’s stumble is a wake-up call

For nearly 90 years, U.S. deposit accounts have been the gold standard for security, safety and soundness. Strong regulations to ensure banks have a solid foundation serve as the first line of defense, but the Federal Deposit Insurance Corp. plays an important role as a backstop protecting consumers’ deposits.

Federal regulators encourage banks to innovate to protect against illicit activity

The Consumer Bankers Association called this action an important first step in improving the current BSA/AML regulations and guidelines.