CBA in the News
March 30, 2020“Previous guidance issued by regulators years ago cut off banks’ ability to offer customers short-term liquidity,” said Richard Hunt, the president and chief executive of the Consumer Bankers Association.
March 18, 2020“More than 99 per cent of branches in the US are open,” said Richard Hunt, chief executive of the Consumer Bankers Association, which represents big banks with almost 40,000 branches between them, half the total in the US. He added that some banks had moved to drive-throughs only, to reduce crowds in accordance with the guidance of healthcare officials, while others are paring back their hours...
March 9, 2020Defenders and detractors alike have debated the constitutionality of the Consumer Financial Protection Bureau for years. Now, nearly a decade later, the U.S. Supreme Court is set to answer the question once and for all with a ruling in Seila Law vs. CFPB. Some legal scholars speculate the Supreme Court will make the director fireable “at will” instead of “for cause,” as Justice Brett Kavanaugh...
January 8, 2020Richard Hunt, president and CEO of the Consumer Bankers Association, said the Fed should formally release its proposal to receive public comment on it. Many of Ms. Brainard’s points and suggestions were already incorporated into the joint OCC and FDIC plan, he added.
January 6, 2020“I find it hard to believe we have people who are opposed to more transparency, more consistency,” said Richard Hunt, president of the Consumer Bankers Association, who said his member banks are still studying the proposal but are pleased with its overall direction.
January 2, 2020The Consumer Bankers Association has pushed for a compromise that would protect the CFPB head from presidential firings but have the director answer to a bipartisan commission to oversee the agency. “If the Court determines the Bureau’s single-director structure is unconstitutional (and assuming the Court cannot itself create the bipartisan commission Congress would have desired), the appropriate...
December 18, 2019Banks and public advocacy groups agree that the Community Reinvestment Act needs to change. But is the latest proposal moving in the right direction?
December 17, 2019Several amicus briefs, including those from the Consumer Bankers Association and the Credit Union National Association , argued that if the Supreme Court decides the CFPB’s structure is unconstitutional, it must strike down all of the Dodd-Frank provisions creating the bureau. Both groups, whose members are regulated by the CFPB, argued, like Seila, that it’s up to Congress to decide how to...
December 12, 2019An industry lobbying group, the Consumer Bankers Association, called the overhaul a “generational opportunity,” with President Richard Hunt saying in a statement that the OCC and FDIC deserve credit “for tackling this herculean effort and working with banks, community groups and other stakeholders to get it right instead of simply getting it done.”
November 18, 2019The Consumer Bankers Association, which represents many retail banks in the U.S., says that its members work with merchants to make sure payment requirements are clear. But those details may not always be communicated sufficiently by a store employee. "If I'm in a mall and I'm at a store and I'm offered a card at the point of sale ... I can see a situation in which the consumer isn't given full...
