Media Releases
- January 6, 2022The Consumer Bankers Association, in a comprehensive comment letter to the Consumer Financial Protection Bureau (CFPB), outlined recommendations to protect and expand access to credit for small businesses and underserved communities. The letter follows the Bureau’s Notice of Proposed Rulemaking (NPRM) in September 2021 to expand data collection requirements for financial institutions in the small...
- January 4, 2022This week, the Consumer Financial Protection Bureau (CFPB) will receive input from stakeholders in response to its Notice of Proposed Rulemaking (NPRM) to expand data collection requirements for financial institutions in the small business lending market under Section 1071 of the Dodd-Frank Act. Here’s what’s happening, why it matters and how the CFPB can protect access to credit for small...
- December 31, 2021Consumer Bankers Association President and CEO Richard Hunt today issued the following statement after the Chairman of the Federal Deposit Insurance Corporation (FDIC), Jelena McWilliams, announced her intent to resign effective February 4, 2022: “As the head of the FDIC, Chairman McWilliams has served her nation and the banking industry with honor and distinction. Throughout this pandemic, she...
- December 29, 2021Consumer Bankers Association President and CEO Richard Hunt today issued the following statement reflecting on the last year and looking ahead to 2022: “In spite of continued challenges, CBA over the last year was proud to deliver on behalf of our membership, whose unyielding commitment to the communities they serve has helped fuel America’s recovery, drive our nation’s economic growth and...
- December 16, 2021Consumer Bankers Association President and CEO Richard Hunt today released the following statement after the Consumer Financial Protection Bureau (CFPB) issued a series of orders to collect information on the business practices of five fintech companies offering “buy now, pay later” (BNPL) credit, including: Affirm, Afterpay, Klarna, PayPal, and Zip. “It’s good to see the CFPB take this much-...
- December 13, 2021In a new op-ed appearing tonight in The Hill ahead of the scheduled open meeting at the FDIC tomorrow, Consumer Bankers Association (CBA) President & CEO Richard Hunt explains why recent actions by Board Members at the FDIC, an agency which has operated openly and publicly for nearly 90 years, are so disconcerting not just for banks, but for the country at large. To read the full op-ed click...
- December 10, 2021On Wednesday, Acting Comptroller of the Currency Michael Hsu spoke on the state of the overdraft market in the United States, highlighting the important need to provide safe and affordable short-term liquidity options for consumers within the well-regulated, well-supervised banking system. Amidst a renewed focus from policymakers on examining overdraft practices, Hsu’s observations and...
- December 7, 2021In a new letter sent today to the Consumer Financial Protection Bureau (CFPB), the Consumer Bankers Association and the American Bankers Association (ABA) reiterated their shared commitment to advancing the Bureau’s mission of protecting all consumers in the rapidly evolving financial marketplace, regardless of where consumers go to meet their financial needs. The letter was sent in response to...
- December 1, 2021Consumer Bankers Association President and CEO Richard Hunt today issued the following statement after the Consumer Financial Protection Bureau (CFPB) released new research examining overdraft and non-sufficient funds (NSF) fees among leading financial institutions: “The CFPB’s research fails to reflect the introduction of innovative products and services unveiled by America’s leading banks to...
- November 30, 2021Consumer Bankers Association (CBA) President and CEO Richard Hunt today released the following statement in opposition to legislation re-introduced by members of the House of Representatives which would limit consumers’ access to credit by imposing an arbitrary cap on interest rates, harming low- and moderate-income communities most: “For millions of American families, small dollar loans, credit...