Consumer Protection
September 30, 2021 - 2:00PMPast
August 16, 2021Dear Chairman Warner and Ranking Member Rubio, In the wake of recent ransomware and other cybersecurity attacks, we appreciate your efforts to improve the resilience of federal agencies and private critical infrastructure, emphasizing the importance of public-private collaboration in this ongoing fight. The financial services sector shares your commitment to cybersecurity and the value in sharing...
August 12, 2021Dear Ms. Misback: The undersigned trade associations, which represent virtually all the Nation’s regulated financial institutions, write to request that the Board of Governors of the Federal Reserve System (“Board”) withdraw the recent Federal Reserve proposal (“Proposal”) to amend Regulation II (12 C.F.R. Part 235),1 unless it is revised materially in the manner recommended herein. During this...
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 28, 2021D ear C h air W a t e rs and Ra n ki n g M e m b er M c H enr y : On b eha l f o f t h e C o n s u m er Bankers Ass o ciat i o n ( CB A ), I am w riti n g to sh a re o u r v i e w s b e f o r e the heari n g entitled “ A Bi a s ed, B r o k en Syst e m : Ex a m i n i n g P r o p o s a ls to O v erh au l Cred i t Re p o r ti n g t o A ch i e v e Eq u i t y .” C B A is the v o i c e o f t h e r e...
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...Pages
CBA Comment Letter re Solicitation for Public Comment on Contract Terms that May Harm Competition (Non-Compete Clauses)