- CBA on
- CBA Media
Deposits & Payments
Deposit growth and strategies have always been a core focus of retail banks. Today's volatile economic climate - with consumers relying less on credit products and more on deposit account services - brings deposit growth and account management to the forefront. As technology and consumer needs evolve, so does the concept of payments. With innovations such as virtual wallets and other forms of digital currency comes new and unique challenges for the payments space. CBA monitors and addresses the issues facing retail banks in the management of the deposits and payments functions.
- October 11, 2016On Tuesday, October 11, 2016, CBA and other trades submitted a comment letter to the Federal Reserve Board in response to recently issued questions and proposed revisions to the biannual debit card issuer survey. The Board collects certain information to facilitate the its ongoing administration of Section 920(a) of the Electronic Fund Transfer Act and related Federal Reserve Board Regulation II...October 11, 2016As generations mature and innovation drives new payments methods, how are preferences and needs evolving? The quarterly consumer trends survey from Fiserv provides answers and insights that financial institutions, billers and other providers can use to understand consumer needs to drive adoption, satisfaction and long-term profitable relationships. Key findings include: consumers overwhelmingly...October 7, 2016CBA Members Help Those Impacted by Hurricane Matthew During hurricane season, CBA members are making every attempt to provide for their customers, employees, and communities impacted by Hurricane Matthew. Many of our members are offering consumers mobile banking options, fully stocked ATM networks, access to customer call centers and timely information posted to their website and social media...October 5, 2016The Consumer Financial Protection Bureau's final rule on prepaid cards will improve fraud protection and provide greater transparency of costs for such products, but is already drawing fire from both consumer advocates and bankers over how it treats overdraft fees. The rule, which is expected to be released Wednesday, effectively grants many protections of credit cards to prepaid products,...October 5, 2016On Wednesday, October, 5, 2016, House Financial Services Committee Ranking Member Maxine Waters (D-CA) led ten other Democratic members in a letter to several governmental agencies expressing the need to strengthen rules regarding incentive-based compensation at financial institutions. The letter, was sent to the Federal Reserve, OCC, FDIC, National Credit Union Administration, Federal Housing...October 5, 2016On Wednesday, October 5, 2016, a group of Democratic senators sent a letter to Attorney General Loretta Lynch requesting the U.S. Department of Justice(DOJ) investigate the opening of unauthorized accounts at Wells Fargo. In particular, the letter called on the DOJ to hold individual executives accountable for any wrongdoing. “A bank teller that takes a handful of bills from the cash drawer is...October 4, 2016Washington, D.C. (October 4, 2016) – CBA’s President and CEO Richard Hunt issued the following statement after the CFPB announced their final rule on prepaid products: “Consumers need access to convenient, low-cost financial services products and prepaid cards are an important tool in servicing these needs. We welcome the proposed application of Regulation E to prepaid card products with minor...September 29, 2016On September 29, 2016, Wells Fargo CEO and Chairman John Stumpf returned to Capitol Hill for a hearing before the House Financial Services Committee Thursday, nearly a week and a half after his testimony before the Senate Banking Committee. The hearing, entitled “Holding Wall Street Accountable: Investigating Wells Fargo’s Opening of Unauthorized Customer Accounts,” featured testimony from Mr...September 22, 2016On Thursday, September 22, 2016, Rep. Patrick McHenry (R-NC) introduced a bill to create a ‘sandbox’ regulatory program similar to one in the United Kingdom to keep the U.S. from losing financial innovators. The U.K. program gives firms the ability to test new fintech products or services alongside a regulator. The newly proposed bill would require many U.S. federal agencies, including the...September 21, 2016 - 2:00PMPastAccording to the Center for Financial Services Innovation, more than half of American adults struggle financially on a recurring or occasional basis. To cope, consumers are using alternative sources to meet their financial needs—instead of turning to their banks.To more proactively support your customers, it is time to empower them to keep their financial health intact through point in time...