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- May 31, 2018 - 2:00PMPastMay 31, 2018Even as bank boards of directors and senior executives have awakened to the need to incorporate regulatory compliance into their corporate cultures, there is growing recognition that more is required to mitigate compliance risk. Namely, transparency and accountability should be promoted as core cultural attributes, if compliance is to take hold at every level of the organization. Drawing upon...May 30, 2018On Wednesday, May 30, 2018, the Federal Reserve Board issued a press release asking for comment on a proposed rule to simplify and tailor compliance requirements relating to the "Volcker rule." "The agencies responsible for implementing the rule see many opportunities to simplify it and improve it in ways that will allow firms to conduct appropriate activities without undue burden and without...May 24, 2018The Senate voted 69-24 Thursday to confirm banking attorney Jelena McWilliams as chairman of the Federal Deposit Insurance Corp. McWilliams, who was most recently chief legal officer at Fifth Third, previously served as a Senate GOP aide and an attorney at the Federal Reserve Board. The White House announced the nomination in November. The confirmation of McWilliams largely completes President...May 18, 2018May 18, 2018 The Honorable Paul Ryan Speaker U.S. House of Representatives H-232, U.S. Capitol Washington, D.C. 20515 The Honorable Nancy Pelosi Minority Leader U.S. House of Representatives H-204, U.S. Capitol Washington, DC 20515 Dear Speaker Ryan and Minority Leader Pelosi: On behalf of the Consumer Bankers Association (CBA), I write to express our support for S. 2155, the Economic Growth,...May 11, 2018DRIVING THE CONVERSATION Rumor Mill Churns: McWatters as Bureau Director? – There is plenty of buzz in D.C. surrounding President Trump’s potential nomination of National Credit Union Administration Board Chair Mark McWatters as the next Director of the Bureau of Consumer Financial Protection (Bureau). We have had conversations with McWatters, as well as many other potential candidates for the...May 9, 2018May 9, 2018 Mr. Kenneth A. Blanco, Director Financial Crimes Enforcement Network P.O. Box 39 Vienna, VA 22183 Re: Compliance for Customer Due Diligence Rule Dear Director Blanco, The Consumer Bankers Association (CBA)  fully supports efforts by the Financial Crimes Enforcement Network (FinCEN) to crack down on illegal activities through its final customer due diligence rule (CDD rule). While...April 24, 2018Consumer bankers are not against regulation, Richard Hunt insists. He makes the point just seconds into an interview at the Consumer Bankers Association offices off Franklin Square in downtown Washington, even before he’s being recorded. As the head of the group, he tries to emphasize that banks want some of the Obama administration's excess regulation reeled in, not complete elimination of rules...April 20, 2018DC DOWNLOAD CBA-Backed Effort to Overturn CFPB's 2013 Auto Bulletin Passes U.S. Senate – CBA member banks are strongly committed to ensuring fair lending policies and practices are upheld while fulfilling consumers’ financial needs. The CFPB’s 2013 Auto Bulletin was a backdoor attempt at rulemaking without notice or comment and lacked the clarity needed by lenders, which is why CBA supported the...April 11, 2018WASHINGTON - Consumer Bankers Association President and CEO Richard Hunt issued the following statement after House Speaker Paul Ryan announced he would retire following his current term: "Speaker Ryan is a visionary leader for not just his party but also for the entire Congress. He has spent his entire career - both as a Member of Congress and staffer before that - doing his homework, tackling...