Legislative Activity
May 6, 2021Dear Majority Leader Schumer and Republican Leader McConnell: RE: Opposition to Senate Joint Resolution 15 (disapproval of OCC True Lender Rule) The undersigned trades associations, representing banks and financial services providers that serve millions of American consumers, write in opposition to Senate Joint Resolution 15. Changes should be made to the True Lender Rule (the final rule issued...
April 29, 2021Dear Senators Scott and Manchin: On behalf of the Consumer Bankers Association (CBA), I write to express our strong support for The Student Loan Disclosure Modernization Act. CBA is the voice of the retail banking industry whose members operate in all 50 states, serve more than 150 million Americans, and collectively hold two-thirds of the country’s total depository assets. CBA members are also...
April 19, 2021Dear Chair Waters and Ranking Member McHenry: On behalf of the Consumer Bankers Association (CBA), I am writing to share our views on two key pieces of legislation scheduled for consideration during your full Committee markup on Tuesday, April 20th. CBA is entering our 102nd year as the voice of retail banking in Washington, D.C. and strongly advocates for polices that allow banks to continue...
April 14, 2021Dear Chair Perlmutter and Ranking Member Luetkemeyer: On behalf of the Consumer Bankers Association (CBA), I write to share our views on special purpose charters, specifically regarding parent companies of industrial banks and industrial loan companies (ILCs) in advance of the House Subcommittee on Consumer Protection & Financial Institutions hearing entitled “Banking Innovation or Regulatory...
March 15, 2021Dear Senators Cardin, Collins and Shaheen and Representatives Velazquez, Luetkemeyer, Bourdeaux and Kim: The undersigned organizations are writing to thank you for your bicameral leadership and swift bipartisan action to provide relief to America’s small businesses through this economic emergency. We strongly support the PPP Extension Act of 2021, which will extend the Small Business...
March 10, 2021Dear Chair Perlmutter and Ranking Member Luetkemeyer: Thank you for your continued leadership as our nation rises to meet the challenges posed by the COVID-19 crisis and for your efforts to support consumers and our economy during this time. This letter includes our views on a number of legislative proposals scheduled for consideration during your Subcommittee hearing on Thursday, March 11...
March 5, 2021Dear Chairmen Cardin, Chairwoman Velazquez, and Ranking Members Paul and Luetkemeyer: We the undersigned trade associations, representing thousands of banks and credit unions that serve America’s small businesses, write to request that you urge the U.S. Small Business Administration (SBA) to make every effort to clear the thousands of loan holds currently in the Paycheck Protection Program (PPP...
March 3, 2021Dear Acting Administrator Perriello, We appreciate the SBA’s interest in views on additional guidance that would be helpful to borrowers and lenders. As you are well aware, in accordance with the Economic Aid Act, commitment authority for the Paycheck Protection Program is set to end on March 31, 2021. Despite this fast approaching date, numerous issues related to loan origination remain in need...
February 25, 2021Commissioner Chopra, Consumer Bankers Association (CBA) congratulates you on your nomination as the next Director of the CFPB. We have worked with every CFPB Director since the Bureau’s creation to champion the consumer benefits of retail banking and advocate for sound banking policy and welcome the opportunity to work with you to achieve the shared mission of ensuring “financial markets work for...
Joint Trades Statement for the Record Senate Finance Subcommittee Hearing on Closing the Tax Gap