What is Consumer Bankers Association (CBA)?

Jul 28, 2022 By Triston Martin

A trade association representing financial institutions in the US is called Consumer Bankers Association (CBA). The Consumer Bankers Association, which was established in 1919, only focuses on the retail banking industry. Therefore, also familiar as the "voice of the retail banking industry".

The Consumer Bankers Association offers educational programs, conducts industry research, and represents consumer banking interests at the federal and state levels. It is respected in the nation's capital as a voice on problems relating to retail banking. It offers financial tools and training to assist bankers in keeping up with retail banking industry standards. The central banks in the country and businesses that provide supplies and services to retail banks make up the association's membership.

The Consumer Bankers Association (CBA): A Basic Overview

The Morris Plan Bankers Association, the precursor to the Consumer Bankers Association, was established in 1919. Morris was a key influence behind the installment credit system and created programs to make it easier for the average American to acquire financing.

A few years later, the group changed its name to the Consumer Bankers Association.

A number of the largest banks in the nation are members of the Consumer Bankers Association, which has its headquarters in Washington, D.C. Banks with assets of $10 billion or more make up as many as 85% of these corporate members.

Companies that provide goods and services to the nation's banks are associate members of the Consumer Bankers Association. The organization's membership renewal rates frequently stay above 90%.

The aggregate assets of the banks that make up the Consumer Bankers Association are $14.5 trillion. This is equivalent to around 79% of all American banks, thrifts, and bank holding companies' total assets.

Several financial institutions, including Equifax, Experian, Visa, FICO, Upstart, Innovis, and VantageScore, are sponsors of the Consumer Bankers Association.

Consumer Bankers Association's goal

The Consumer Bankers Association collaborates with the nation's largest retail banks to advocate solid policy, teach the next generation of bankers, and fund the ambitions of consumers and small businesses.

Its main objectives are:

  • Advocate for members and consumers before federal lawmakers and regulators
  • Serving as a source for research, participation, and understanding for the Consumer Financial Protection Bureau (CFPB)
  • Communicating with customers about bank services
  • Educating upcoming retail banking leaders

Specific Considerations

The Consumer Bankers Association team is made up of an executive branch and several teams that are in charge of the following branches:

  • Consumer Bankers Association membership in government relations
  • Activities and committees
  • Administration of education communications and marketing.

The association's board of directors (B of D) is made up of some of the top executives in the retail banking sector. These board members have jobs with well-known financial institutions like JPMorgan Chase, Citi, TD Bank, BMO Harris Bank, and Santander.

Consumer Bankers Association membership information

Corporate membership

With 85% of its members owning assets worth more than $10 billion, Consumer Bankers Association comprises the biggest banks in the country as well as regional and online banks. Consumer Bankers Association distinguishes itself from other bank trade groups by concentrating on retail banking. Since 1919, Consumer Bankers Association has offered industry insight, analysis, advocacy, education, and networking opportunities.

Associate membership

The top providers of supplies and services to the retail banking sector are associate members of the Consumer Bankers Association. Consumer Bankers Association wants to improve your relationship with current and potential customers while offering you the chance to market your brand and stay up to date on the most recent developments in retail banking.

What is Consumer Bankers Association Live?

The company organizes Consumer Bankers Association Live, an annual conference. The initial one took place in 2011. The Consumer Bankers Association's various working groups, standing committees, and subcommittees arranged the three-day conference. Numerous senior bankers and business executives come from all across the nation to attend this prestigious event. Professionals who are eager to discover new trends and exchange ideas with the most influential decision-makers in the industry will find excellent content at Consumer Bankers Association Live.

Consumer Bankers Association Education Program

Advanced Education Programs offered by the Consumer Bankers Association give your most promising managers the chance to engage in a challenging, practical learning environment that combines cutting-edge simulation technology with individual team dynamics.

Advanced theory and the most positive, practical examples are applied in this type of higher education. Students graduate from these programs with knowledge, engagement, and vigor—prepared to take on even the most difficult tasks.

Tomorrow's leaders will come from today's Advanced Education students at the Consumer Bankers Association.

Consumer Bankers Association features Phase 5 report

The organization published a recent study by Phase 5 and Delvinia on September 9th, 2020, in their members-only education sector. The "State of American Small Business Banking Experience" study asked small business owners (SBOs) about their opinions of their bank's innovation, user experience (UX), customer experience (CX), and customer-centricity. This information was used to identify and measure the critical factors that drive loyalty.

91% of American SBOs believe their bank is customer-focused, according to the Consumer Bankers Association, but they also agree that there is still space for improvement in several areas. Other significant takeaways for the Consumer Bankers Association were as follows:

  • How business banking clients evaluate their bank on criteria like user experience, innovation, and customer service;
  • What matters to them, as well as any gaps they have encountered;
  • A list of the top banking requirements for business banking customers as they prepare for a post-pandemic future.

The Consumer Bankers Association is respected in the nation's capital as a voice on minor business banking problems. It offers financial education and support to assist bankers in staying current with industry standards.

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