Regulatory Compliance & Agency Engagement
July 9, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Biden Administration released a sweeping anti-trust executive order that will direct the Consumer Financial Protection Bureau (CFPB), prudential regulators and other federal agencies to examine activity on mergers and acquisitions within the banking sector: “ Our nation’s leading...
June 29, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt sent a letter to the House Committee on Appropriations yesterday, opposing the “Postal Non-Banking Financial Services Modernization Pilot Program” included in the fiscal year 2022 Appropriations Act. Recognizing market participants in the well-regulated, well-supervised banking system already provide expertise and services...
June 24, 2021WASHINGTON – CBA President and CEO Richard Hunt today released the following statement after the Federal Reserve announced the results of stress tests assessing the strength and resiliency of the nation’s financial institutions: “These results reaffirm what America’s leading banks have shown over the last 16 months: our well-capitalized, well-regulated banking system is safe, sound, and equipped...
May 7, 2021Joint Financial Trades Statement on Federal Reserve’s Decision to Revisit Reg II WASHINGTON – The Consumer Bankers Association today released the following statement with the American Bankers Association, Bank Policy Institute, Credit Union National Association and National Association of Federally-Insured Credit Unions after the Federal Reserve announced its decision to consider changes to...
April 15, 2021CBA Calls for Continued Efforts to Level Playing Field, Highlights Dangers of ILC Charters Without Adequate Supervision WASHINGTON – In advance of the House Subcommittee on Consumer Protection and Financial Institutions hearing today entitled “Banking Innovation or Regulatory Evasion? Exploring Trends in Financial Institution Charters,” the Consumer Bankers Association wrote a letter to...
February 23, 2021CBA Statement on FDIC Quarterly Banking Profile WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Federal Deposit Insurance Corporation released its full-year and fourth quarter 2020 performance report: “The FDIC’s latest report reveals the nation’s banks remained strong and resilient throughout 2020 despite the financial impact of...
December 22, 2020To Whom It May Concern: The Consumer Bankers Association (CBA) is pleased to submit these comments to the Bureau of Consumer Financial Protection, Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and National Credit Union Administration (together, the “Agencies”) in response to the Notice of Proposed Rulemaking (...
December 1, 2020CBA Statement on FDIC Quarterly Banking Profile WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement on the Federal Deposit Insurance Corporation’s quarterly banking profile: “The FDIC’s third quarter report revealed strong capital levels and historically low problem bank numbers, a testament to the industry’s efforts to build a solid, resilient...
October 29, 2020On Thursday, October 29, 2020, the five federal financial regulatory agencies issued a press release inviting comment on a proposal outlining and confirming the agencies’ use of supervisory guidance for regulated institutions. The proposal would codify the statement, as amended, that was issued in September 2018 by the agencies that clarified the differences between regulations and guidance...
CBA Comment Letter re Extent to Which Model Risk Management Principles Support Compliance With Bank Secrecy Act/Anti-Money Laundering and Office of Foreign Assets Control Requirements