CBA in the News

Press Contact

Bobby Grant
bgrant@consumerbankers.com
202-552-6365
  • April 18, 2017
    It's the topic the banking industry can't avoid, even when people prefer not to mention it by name: Wells Fargo. Banking executives and consultants who normally focus on checking accounts and credit cards spent a recent conference talking about "cross-selling" and "incentive compensation." Those are code words for Wells Fargo, and the up to 2 million accounts that its employees opened without...
  • March 27, 2017
    The job of bank teller used to be one of the fastest-growing occupations in America, reaching a peak of 531,000 jobs in 1980 and trailing only computer operators and specialists in growth rate during the 1970s. Now technology lets bank customers tap their smartphone screens to transfer money between accounts or deposit checks — activities that used to require walking into a branch and talking...
  • March 23, 2017
    Huntington Bancshares in Columbus, Ohio, has named Bank of the West executive Andy Harmening as its new head of consumer and business banking. He will succeed Mary Navarro, who is retiring after 42 years in the industry. Harmening is Bank of the West's vice chairman of consumer banking. Before joining the San Francisco unit of France's BNP Paribas in 2005, he worked in small business and...
  • March 20, 2017
    The parade of legal developments leading toward the U.S. Court of Appeals for the District of Columbia Circuit rehearing an important case involving the Consumer Financial Protection Bureau has started in earnest. First, the American Financial Services Association, along with a dozen other organizations, delivered an amicus brief — a legal document filed in appellate court cases by non-litigants...
  • March 16, 2017
    Banks and other financial firms in 2016 generated the highest level of fees in seven years related to overdrafts on checking accounts, marking a turnaround for a charge crisis-era regulation tried to rein in. So-called overdraft fees totaled $33.3 billion in 2016, up about 2.5% from 2015 and by 5.4% from 2011, according to Moebs Services Inc., an economic-research firm. Overdrafts occur when...
  • March 14, 2017
    In the months ahead, Trump stands to name a wave of the nation's topmost banking regulators -- including new heads of the Federal Reserve, FDIC and the Office of the Comptroller of the Currency when the terms of the current leaders expire. There's already a vacancy for a powerful big bank regulator -- the Fed's vice chairman for supervision . That's in addition to two other vacancies on the...
  • March 14, 2017
    If you’ve ever had to dispute a charge on a credit card, fix a mix-up with your mortgage or stop a debt collector from hounding you, you’ve benefited from the work of a federal watchdog agency that is now under fire in Washington. The Consumer Financial Protection Bureau arguably has done as much to change the financial lives of consumers as any other government agency in history. Most Americans...
  • March 10, 2017
    Shadow banks: The name sounds sinister, and these lightly regulated lenders do get some of the blame for the 2008-09 financial crisis. But they’re becoming an increasingly important feature of the global financial landscape, to the dismay of critics who fear they’ll eventually produce another financial systems failure. Also known more benignly as nonbank lenders, these entities have expanded...
  • March 10, 2017
    BANKERS BACK STUDENT LOAN BILL: A bill that would require the Education Department to disclose a loan’s annual percentage rate to students getting federal loans at the time of application now has the support of the Consumer Bankers Association. “Many federal student loan borrowers learn the true cost of their education much too late,” Richard Hunt, the president of the group, said in a statement...
  • February 23, 2017
    Republicans and the Consumer Financial Protection Bureau are playing a game of chicken over a proposal that would restrict banks, credit unions and other lenders from using mandatory arbitration clauses. Republicans stand ready to deploy a rarely used legislative process called the Congressional Review Act if the CFPB finalizes the arbitration plan, which would ban clauses that prevent consumers...

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