Regulatory Compliance & Agency Engagement
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...
March 1, 2022Consumer Bankers Association President and CEO Richard Hunt today issued the following statement after the Federal Deposit Insurance Corporation (FDIC) released the Q4 2021 Quarterly Banking Profile: “The FDIC’s fourth quarter profile reiterates the important role banks continue to play in fueling our nation’s economic recovery. Accelerating deposit growth and improving credit quality serve as...
February 18, 2022Jonathan Kanter Assistant Attorney General for the Antitrust Division U.S. Department of Justice 950 Pennsylvania Avenue, N.W., Washington, D.C. 20530. Dear Assistant Attorney General Kanter: The Consumer Bankers Association (CBA) 1 appreciates the opportunity to comment on the Department of Justice’s Antitrust Division’s (DOJ) request for comments as to whether and how the DOJ should revise the...
February 3, 2022Ahead of FDIC Chairman Jelena McWilliams’s effective resignation tomorrow Consumer Bankers Association (CBA) President & CEO Richard Hunt released the following statement commending her for her years of service to the banking industry and the millions of Americans the agency serves: “Chairman McWilliams has served our nation and the banking industry with professionalism and class. As the head...
January 31, 2022As a modern-day alternative to traditional layaway, “Buy Now Pay Later” (BNPL) credit is taking the nation by storm and the number of Americans using these products has climbed 300% every year since 2018. In two new op-eds appearing in American Banker last week, the Consumer Bankers Association (CBA) and the Center For Responsible Lending (CRL) warned the added convenience of BNPL may also bring...
January 12, 2022In a new letter sent yesterday to members of the Federal Deposit Insurance Corporation (FDIC) Board of Directors, including Chairman Jelena McWilliams, Director Martin J. Gruenberg, Acting Comptroller of the Currency, Michael Hsu, and Director of the Consumer Financial Protection Bureau (CFPB), Rohit Chopra, Consumer Bankers Association (CBA) President & CEO Richard Hunt urged the agency’s...
December 13, 2021In a new op-ed appearing tonight in The Hill ahead of the scheduled open meeting at the FDIC tomorrow, Consumer Bankers Association (CBA) President & CEO Richard Hunt explains why recent actions by Board Members at the FDIC, an agency which has operated openly and publicly for nearly 90 years, are so disconcerting not just for banks, but for the country at large. To read the full op-ed click...
CBA Joint Comment Letter Opposing H.R. 963, "Forced Arbitration Injustice Repeal (FAIR) Act"