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Regulatory Compliance & Agency Engagement
- January 11, 2019CBA Writes Prudentials on Shutdown Assistance Programs for Customers CBA outlines assistance programs, Thanks agencies for regulatory guidance WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt today wrote prudential regulators outlining the assistance programs banks are proactively offering customers impacted by the partial government shutdown. The letter also thanked...
- December 21, 2018CBA Statement on Otting Selection as Acting FHFA Director WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after President Trump announced Comptroller of the Currency Joseph Otting would serve as acting Federal Housing Finance Agency director until Mark Calabria is confirmed by the Senate: “Comptroller Otting is an excellent choice to serve...
- December 21, 2018Cajun Thoughts: HOLIDAY WEEK Today begins one of my favorite weeks of the year, where I head down to Jennings, Louisiana to spend time with my mother, three older sisters and more than 10 nieces and nephews. As always, I will be visiting Walmart, Sonic, Boudin King and the 14 payday lenders. I hope all of you have time to spend with your families as we prepare for 2019 … WHAT’S IN A NAME I never...
- December 18, 2018CBA Writes Regulators on Fintech Deposit Account Consumer Protections WASHINGTON – The Consumer Bankers Association this morning wrote the Federal Deposit Insurance Corporation, Federal Reserve Board, Federal Trade Commission, Office of the Comptroller of the Currency, and Securities and Exchange Commission encouraging the regulatory agencies to help ensure consumers know the differences in...
- November 29, 2018CBA Submits BSA/AML Improvement Recommendations WASHINGTON – The Consumer Bankers Association today provided recommendations on improving Bank Secrecy Act and related anti-money laundering laws and regulations to the Senate Banking Committee in advance of a hearing on combatting money laundering and other forms of illicit finance. The letter was sent to Committee Chairman Mike Crapo (R-Idaho) and...
- November 13, 2018On Tuesday, October 30, 2018, the three federal banking agencies (Federal Reserve Board, FDIC, and the OCC) jointly issued a press release inviting the public to comment on a proposal to update their standards for how firms measure counterparty credit risk posed by derivative contracts under the agencies’ regulatory capital rules. The proposed changes are designed to better reflect the current...November 9, 2018Cajun Thoughts: I absolutely love and respect America’s democratic process. The fact any citizen, regardless of background, has the right to elect our leaders gives me chills each and every time. I am especially fortunate to be surrounded by a diverse CBA Team of different political ideologies and willing to share their views with me in an open and candid dialogue (as long as they are pro-banking...November 8, 2018On Thursday, November 8, 2018, the OCC renewed the charter of its Mutual Savings Association Advisory Committee . The MSAAC provides advice to the Comptroller of the Currency about mutual savings associations and assesses their current condition, regulatory changes that may promote their health and viability, and other issues affecting these institutions. The committee includes officers and...November 7, 2018On Wednesday, November 7, 2018, the FED, FDIC, and OCC jointly released a proposal aimed to reduce the regulatory reporting burdens on small institutions by expanding the number of regulated institutions eligible for streamlined reporting, under Section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. The proposal would permit insured depository institutions with total...November 2, 2018The proposal earned praise from outgoing House Financial Services Chairman Jeb Hensarling (R-Tex.), who said in a statement he wishes it went further but it nevertheless provides “much needed clarity.” And Consumer Bankers Association President Richard Hunt called it a “a positive step toward making regulations more aligned with the risks posed by activities instead of basing everything on an...