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- February 12, 2020Federal Reserve Chairman Jerome Powell testified today before the Senate Banking, Housing, and Urban Affairs Committee for his semiannual monetary policy report to Congress. Key Takeaways: Republicans and Democrats alike stressed the importance of Fed independence and encouraged Chairman Powell to maintain that posture in all matters. On economic issues, several Republican Senators lauded the...February 12, 2020The House Financial Services Subcommittee on Diversity and Inclusion held a hearing today examining diversity and inclusion (D&I) accountability at large banks and reviewed a report conducted by the committee which evaluated D&I practices at the nation's largest banks. A full hearing summary prepared by the CBA Team is available here .February 4, 2020The House Financial Services Committee held a hearing today titled “Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to Evade State Consumer Protections and Interest Rate Caps.” Chairwoman Waters (D-CA) opened the hearing by emphasizing the harmful impacts payday lending and rent-a-bank schemes having on consumers, particularly referencing the OCC and FDIC’s proposed rule as providing “...January 28, 2020January 28, 2020 The Honorable Nancy Pelosi Speaker of the House U.S. House of Representatives The Capitol H-232 Washington, DC 20515 The Honorable Kevin McCarthy House Majority Leader U.S. House of Representatives The Capitol H-204 Washington, DC 20515 Dear Speaker Pelosi and Majority Leader McCarthy: On behalf of the Consumer Bankers Association (CBA), I am writing in opposition to H.R. 3621,...December 18, 2019Banks and public advocacy groups agree that the Community Reinvestment Act needs to change. But is the latest proposal moving in the right direction?October 22, 2019CBA Commends House, Encourages Senate Action on Beneficial Ownership Bill WASHINGTON, D.C. – Following the U.S. House of Representatives’ passage of the Corporate Transparency Act (H.R. 2513), Consumer Bankers Association President and CEO Richard Hunt issued the following statement thanking the bill’s key sponsors, Reps. Carolyn Maloney (D-N.Y.), Pete King (R-N.Y.), Blaine Luetkemeyer (R-Mo.),...July 16, 2019July 16, 2019 The Honorable Frank Pallone The Honorable Greg Walden Chairman Ranking Member Committee on Energy & Commerce Committee on Energy & Commerce 2125 Rayburn House Office Building 2125 Rayburn House Office Building Washington, D.C. 20510 Washington, D.C. 20510 Dear Chairman Pallone and Ranking Member Walden: On behalf of the Consumer Bankers Association (CBA) I write to share our...July 11, 2019July 11, 2019 The Honorable Maxine Waters Chairwoman Committee on Financial Services 2129 Rayburn House Office Building U.S. House of Representatives Washington, D.C. 20515 The Honorable Patrick McHenry Ranking Member Committee on Financial Services 4340 O’Neill House Office Building U.S. House of Representatives Washington, D.C. 20515 Dear Chairwoman Waters and Ranking Member McHenry: On behalf...May 24, 2019Fifth Third Bank recently revealed a fresh, hip design for its next-generation branch, to be used in all of its new, relocated or remodeled branch locations. The first next-generation branch opened last week inside the new Kroger Store in Green Township, Ohio. Say goodbye to teller lines and windows, say hello to informal meeting spaces and couches! Cajun Thoughts: CFPB APPOINTS PERMANENT DEPUTY...May 22, 2019CBA Comments on H.R. 1500, Green Amendment “Instead of partisan legislation, the CFPB needs a bipartisan, Senate confirmed commission to serve as a proper check on the power and ability of the Bureau’s sole director to act unilaterally.” WASHINGTON – In advance of the House of Representatives’ consideration of the Consumer First Act (H.R. 1500), the Consumer Bankers Association wrote Members of...