Regulatory Compliance & Agency Engagement

  • August 20, 2019
    On Tuesday, August 20, 2019, the Board of Directors of the FDIC approved an interagency final rule to simplify and tailor requirements relating to Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly known as the "Volcker Rule." The Volcker Rule generally prohibits banking entities from engaging in proprietary trading and from owning or controlling hedge funds or...
  • July 22, 2019
    On Monday, July 22, 2019, the U.S. Department of the Treasury’s Office of Terrorism and Financial Intelligence, the federal bank regulatory agencies and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a joint statement as part of continuing efforts to improve transparency into their risk-focused approach to Bank Secrecy Act (BSA)/anti-money laundering (...
  • June 4, 2019
    On Tuesday, June 4, 2019, the OCC issued a press release announcing that national banks and federal savings associations (FSAs) with consolidated assets between $100 billion and $250 billion will not be subject to the Dodd-Frank Act Stress Test (DFAST) requirements as of November 24, 2019, the OCC extended the deadline for compliance with the DFAST requirements for those banks to November 25,...
  • May 30, 2019
    On Thursday, May 30, 2019, the FDIC issued a press release reporting that Commercial banks and savings institutions insured by the FDIC reported aggregate net income of $60.7 billion in first quarter of 2019, up $4.9 billion (8.7 percent) from a year earlier. The increase in net income was mainly attributable to a $7.9 billion (6 percent) increase in net interest income. Financial results for...
  • May 9, 2019
    Director Kathy Kraninger Consumer Financial Protection Bureau 1700 G. St. N.W. Washington, DC 20552 Director Kraninger, I write to commend you on the Bureau’s recent changes to its Civil Investigative Demand (CID) policies requiring CIDs to provide more information about the conduct under investigation. CBA is pleased the Bureau opened a request for information on this topic last year and thanks...
  • May 7, 2019
    CBA, Financial Trades Write HFSC on Anti-Money Laundering Legislation WASHINGTON – The Consumer Bankers Association, along with eight other financial services trades, today wrote House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) and Ranking Member Patrick McHenry (R-N.C.) in support of the Committee’s work to modernize the anti-money laundering and counterterrorism regulatory...
  • April 30, 2019
    CBA Writes Senate Banking Committee on Guidance, Supervision, Regulatory Coordination Letter restates support for GUIDE Act, CFPB Supervision of Nonbanks WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt wrote Senate Banking Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio) to discuss the use of proper regulatory guidance, the need for...
  • April 30, 2019
    April 30, 2019 The Honorable Mike Crapo Chairman Committee on Banking, Housing, and Urban Affairs 534 Dirksen Senate Office Building U.S. Senate Washington, D.C. 20510 The Honorable Sherrod Brown Ranking Member Committee on Banking, Housing, and Urban Affairs 534 Dirksen Senate Office Building U.S. Senate Washington, D.C. 20510 Dear Chairman Crapo and Ranking Member Brown: On behalf of the...
  • April 16, 2019
    When it comes to shaping the regulatory and business environment to best serve the needs of banks and consumers, shortsightedness and lack of consistency may be two of the greatest obstacles facing the financial industry today. Speaking with Dodd Frank Update at CBA LIVE 2019 in Washington D.C., Consumer Bankers Association (CBA) President and CEO Richard Hunt detailed his views on the need for...
  • April 10, 2019
    CBA’s Hunt Discusses Strength, Benefits of Nation’s Largest Banks Says House Financial Services Committee Hearing “is a great opportunity for the CEOs to appear before the public and stress how much different the banking industry is versus 10 years ago. We are very positive about the future of banking.” WASHINGTON, D.C. – Consumer Bankers Association President and CEO Richard Hunt today discussed...

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