Consumer Protection
July 9, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Biden Administration released a sweeping anti-trust executive order that will direct the Consumer Financial Protection Bureau (CFPB), prudential regulators and other federal agencies to examine activity on mergers and acquisitions within the banking sector: “ Our nation’s leading...
June 28, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt today opposed the National Credit Reporting Agency Act in a letter to the House Committee on Financial Services’ Chair Maxine Waters (D-CA) and Ranking Member Patrick McHenry (R-NC) in advance of a legislative hearing this week examining the proposal. Hunt outlined several specific concerns with the legislation, including:...
June 28, 2021Dear Chairs DeLauro and Quigley and Ranking Members Granger and Womack: On behalf of the Consumer Bankers Association (CBA), I write in opposition to the “Postal Non-Banking Financial Services Modernization Pilot Program” included in the fiscal year 2022 Appropriations Act for Financial Services and General Government. CBA is the voice of the retail banking industry whose products and services...
June 21, 2021WASHINGTON – CBA President and CEO Richard Hunt today released the following statement after President Joe Biden met with the heads of the leading regulatory bodies governing America’s financial institutions today at the White House: "We are pleased President Biden met with federal regulators today to discuss the state of the economy and the safety and soundness of the banking system as new risks...
June 16, 2021On Wednesday, June 16, 2021, the FDIC announced a ‘tech sprint’ designed to explore new technologies and techniques that would help expand the capabilities of banks to meet the needs of unbanked individuals and households. The FDIC‘s tech lab, FDITECH , is launching a first-of-its-kind tech sprint by challenging participants to identify better resources and tools to help banks get unbanked...
May 27, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt appeared on Fox Business’ “Mornings with Maria” today in advance of the second of two hearings on Capitol Hill this week with the CEOs of JPMorgan Chase, Bank of America, Citi, and Wells Fargo. Excerpts from the interview are below. Touting the critical role banks played during the pandemic and will continue to play in...
April 22, 2021Dear Mr. Lowman: The undersigned associations appreciate the opportunity to comment on the Social Security Administration’s (“SSA”) proposed amendments to the User Agreement and Technical Specifications and Systems Security documents for participants in the SSA’s electronic Consent Based Social Security Number (“SSN”) Verification (“eCBSV”) Service, as well as the document titled “Addendum to the...
March 29, 2021In this webinar, hear from Dan Quan, former Senior Advisor to the Director, CFPB, on how the Biden administration is signaling for more relief for consumers affected by COVID-19 and how that will impact lending organizations. Dan and TrueAccord co-founder Ohad Samet will talk about how lending organizations can ensure regulatory compliance while building more consumer-friendly collection...
December 22, 2020To Whom It May Concern: The Consumer Bankers Association (CBA) is pleased to submit these comments to the Bureau of Consumer Financial Protection, Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and National Credit Union Administration (together, the “Agencies”) in response to the Notice of Proposed Rulemaking (...
CBA Letter to HFSC re Credit Reporting Hearing