Regulatory Compliance & Agency Engagement
September 8, 2022In a wide-ranging conversation featured yesterday in POLITICO’s Morning Money, CBA President & CEO Lindsey Johnson discussed some of the key policy issues facing retail banks and how the industry is responding to a new regulatory regime in Washington, D.C. The exclusive, on-the-record interview was Johnson’s first since assuming the role of President & CEO and comes just two weeks before...
August 19, 2022The FDIC’s proposed increase of deposit insurance assessment rates rests on incomplete, outdated economic analysis, the Consumer Bankers Association, Bank Policy Institute , the American Bankers Association, the Independent Community Bankers of America, the National Bankers Association and the Mid-Size Bank Coalition of America wrote in a comment letter submitted today. The increase would harm...
June 23, 2022WASHINGTON, DC – Consumer Bankers Association (CBA) President and CEO Richard Hunt today released the following statement after the Federal Reserve announced the results of the agency’s annual stress tests, which assess the ability of large financial institutions to weather severe economic uncertainty: “Today’s results once again affirmed the strength and resiliency of the nation’s leading banks...
May 24, 2022Consumer Bankers Association President and CEO Richard Hunt today issued the following statement after the Federal Deposit Insurance Corporation (FDIC) released the Q1 2022 Quarterly Banking Profile: “Despite historic inflationary pressures and global uncertainty, the FDIC’s Q1 2022 Quarterly Banking Profile demonstrates the resiliency of America’s leading banks and the millions of consumers they...
May 12, 2022The Consumer Bankers Association (CBA) today released the following statement after the United States Senate confirmed Jerome Powell to serve a second term as Chairman of the Federal Reserve Board of Governors: “Congratulations to Jerome Powell on his Senate confirmation to serve a second term as Chairman of the Federal Reserve. Throughout the COVID-19 pandemic, Chairman Powell has worked in...
May 11, 2022Over the past year, a growing share of America’s leading banks have unveiled innovative overdraft solutions, providing customers greater choice and flexibility to make informed personal financial decisions. In Washington, leading regulators, legislators, and academics from across the political spectrum have recognized the positive impact these changes have had in the lives of the people we are...
May 5, 2022Consumer Bankers Association (CBA) President & CEO Richard Hunt today released the following statement after the Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released a joint notice of proposed rulemaking to reform the Community Reinvestment Act (CRA): “This is an important step towards modernizing a law that has not...
April 13, 2022A new bipartisan report from the U.S. Government Accountability Office (GAO) found regulatory uncertainty around small-dollar loans served as a significant impediment towards banks’ ability to offer these products. The report, commissioned by U.S. Senators Gary Peters (D-MI) and Mike Rounds (R-SD), reaffirmed CBA’s longstanding position that excessive and ever-changing regulation stifles...
March 28, 2022On Thursday, the House Subcommittee on Consumer Protection and Financial Institutions will hold a hearing on the overdraft marketplace. The hearing comes amidst the backdrop of the CFPB’s ongoing examination of bank fees , which also include overdraft. Ahead of these events, the Consumer Bankers Association (CBA) today released a new video to correct misinformation surrounding bank fees, to...
Comments on Regulation Implementing the Adjustable Interest Rate (LIBOR) Act