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Items about the Consumer Bankers Association and its initiatives, including CBA Advanced Education, CBA LIVE, CBA Team news and more.
- December 7, 2017On Thursday, December 7, 2017, the FDIC, OCC and the Federal Reserve Board announced their support for the conclusion of efforts to reform the international bank capital standards initiated in response to the global financial crisis. The agencies will consider how to appropriately apply these revisions to the Basel III reform package in the United States and any proposed changes based on this...December 5, 2017December 5, 2017 The Honorable Mike Crapo Chairman Senate Banking Committee 239 Dirksen Senate Office Building Washington, D.C. 20001 Dear Chairman Crapo: On behalf of the Consumer Bankers Association (CBA), I write to express our appreciation for your leadership in crafting S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act. S. 2155 marks the first major bipartisan bill...December 2, 2017WASHINGTON, D.C. – Consumer Bankers Association President and CEO Richard Hunt issued the following statement on President Donald Trump’s nomination of Jelena McWilliams to serve as the next chair of the Federal Deposits Insurance Corporation (FDIC): “Jelena McWilliams possess a unique combination of policy, regulatory and banking experience. I am confident her background and leadership abilities...November 29, 2017On Wednesday, November 29, 2017, the OCC issued its final rule to address concerns relating to the exercise of default rights of certain financial contracts that could interfere with the orderly resolution of systemically important financial firms. The final rule requires a covered bank to ensure all covered qualified financial contracts (QFC) meet the following criteria: Contain a contractual...November 27, 2017On Monday, November 27, 2017, Joseph M. Otting was sworn in as the 3st Comptroller of the Currency by Treasury Secretary Steven Mnuchin. Mr. Otting was confirmed by the Senate on November 16, 2017, and takes over following Keith Noreika who has served as Acting Comptroller for the past few months. Mr. Otting was President of CIT Bank and Co-President of CIT Group from August to December of 2015...November 22, 2017Happy Thanksgiving From CBA From the entire CBA Team to you and your family, have a wonderful Thanksgiving. This year, we are thankful for our membership, which works night and day to deliver needed financials services to millions of consumers and small business across the country. A Post Cordray CFPB: Who Will Head the CFPB Next? By the end of November, CFPB Director Richard Cordray is expected...November 21, 2017On Tuesday, November 21, 2017, the Federal Reserve, FDIC and OCC finalized a rule extending existing capital requirements for mortgage servicing assets and other items for certain financial institutions. The rule sought to prevent other policies from taking effect while the agencies consider a broader simplification of the capital rules. The rule will be effective on January 1, 2018. The final...November 17, 2017On Friday, November 17, 2017, the Federal Reserve Board (Fed) announced it would extend, until February 15, 2018, the comment periods for two related proposals allowing interested parties additional time to analyze the issues and respond. The proposals included Legal Financial Institution Rating System; Regulation K and LL ( Docket No. R-1569 ) and Proposed Guidance on Supervisory Expectations...November 16, 2017WASHINGTON, D.C . – Consumer Bankers Association President and CEO Richard Hunt released the following statement after the U.S. Senate Committee on Finance passed its version of the Tax Cuts and Jobs Act: “Helping American families and enabling businesses to drive our economic growth should be top priorities for any tax reform proposal. Provisions in the Senate Finance Committee’s legislation...November 16, 2017WASHINGTON, D.C . – Consumer Bankers Association President and CEO Richard Hunt released the following statement after the U.S. Senate confirmed Joseph Otting to head the Office of the Comptroller of the Currency: “We congratulate Joseph Otting on his confirmation by the U.S. Senate as the 31 st Comptroller of the Currency. CBA looks forward to working with Mr. Otting to coordinate regulations...