Regulatory Compliance & Agency Engagement
December 7, 2021In a new letter sent today to the Consumer Financial Protection Bureau (CFPB), the Consumer Bankers Association and the American Bankers Association (ABA) reiterated their shared commitment to advancing the Bureau’s mission of protecting all consumers in the rapidly evolving financial marketplace, regardless of where consumers go to meet their financial needs. The letter was sent in response to...
November 22, 2021Consumer Bankers Association President and CEO Richard Hunt today issued the following statement on the Biden Administration’s renomination of Jerome Powell to lead the Federal Reserve as Chair: “CBA commends Chair Powell on his renomination. During one of the most uncertain and challenging times in our nation’s history, Chair Powell’s leadership helped ensure the well-regulated and well-...
September 30, 2021Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the U.S. Senate confirmed Rohit Chopra to serve as the next Director of the Consumer Financial Protection Bureau (CFPB): “Congratulations to Commissioner Chopra on his confirmation to lead the CFPB. CBA looks forward to working with Mr. Chopra to ensure the most thorough consumer protection...
September 28, 2021CHARLOTTE – In a live interview from Charlotte this morning , CBA President and CEO Richard Hunt spoke with Maria Bartiromo on Fox Business about an expansive new reporting regime that would impact virtually every American and small business with a bank account. Recognizing this proposal would threaten the deep level of trust consumers have come to expect from their banks, Hunt said: “When a...
September 17, 2021More than 40 associations representing a broad cross-section of financial and business interests led by the Consumer Bankers Association (CBA) and American Bankers Association (ABA) today sent a letter to Speaker of the House Nancy Pelosi (D-CA), Minority Leader Kevin McCarthy (R-CA) and Members of the U.S. House of Representatives urging them not to move forward with a proposal under...
August 2, 2021WASHINGTON – The Bank for International Settlements today released a new report warning of the significant risk to the global financial system posed by the lack of sufficient regulation and supervision among leading technology firms, which increasingly are offering financial products and services to consumers. In response to the report, Consumer Bankers Association President and CEO Richard Hunt...
July 20, 2021WASHINGTON –CBA President and CEO Richard Hunt today issued the following statement after the Office of the Comptroller of the Currency (OCC) announced its decision to move forward with a repeal of the June 2020 Community Reinvestment Act (CRA) rule and continue working with the Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on a joint rulemaking process to modernize...
July 19, 2021WASHINGTON – CBA President and CEO Richard Hunt today released the following statement after many of the nation’s leading financial institutions reported strong Q2 financial positions last week, highlighted by consumer spending returning to pre-pandemic levels as well as an anticipated rise in consumer borrowing: “During the worst of the pandemic-related economic shutdown, America’s leading banks...
July 16, 2021WASHINGTON – The Consumer Bankers Association and the Bank Policy Institute today provided a response to the FDIC’s Request for Information on the digital activities of banks. Given that FinTechs are generally subject to little to no regulation or examination, it is clearly easier for them to innovate in the digital assets space – for example, by issuing or offering trading in cryptocurrencies...
Joint Trades Letter on Proposed Guidelines for Evaluating Account & Services Requests