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CBA’s Johnson in First Presidential Address to Industry: “CBA Member Banks Are Strong”
March 27, 2023
Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today reinforced the strength, resiliency, and unity of the banking industry in her first presidential address to the industry since becoming the head of the organization in July 2022.
Kicking off retail banking’s premier annual event, CBA LIVE 2023, Johnson welcomed nearly 1,700 industry leaders, more than 730 of which are senior-level bankers, proclaiming:
“The 73 banks that are members of The Consumer Bankers Association represent nearly 70 percent of all assets within the banking industry. And I can tell you that CBA member banks are strong.”
In recognition of the indelible work of banks to support millions of consumers and the communities in which they live, she said:
“Banks remain laser-focused on financial inclusion – expanding access to credit for low- and moderate-income communities and neighborhoods of color. AND IT’S WORKING. This year, more than 95% of Americans are meeting their needs within the banking system – an achievement you should all be proud of. […]
“Even as we contend with increased competition and constantly evolve to meet consumer demands, we can’t forget to utilize the time-tested fundamentals that Americans have come to depend on and trust for more than a century. […] as we’ve come to learn, that trust is fragile. While recent events have put that trust to the test, our member banks are passing that test every day.”
Acknowledging the impact recent bank closures have had on the industry and consumers, Johnson highlighted the work CBA has done on behalf of its members to develop thoughtful solutions:
“Throughout this crisis we have been working together with each other and with policymakers to get things right on behalf of the millions of Americans that we serve. In the last few weeks, we have had in-depth conversations on nearly a daily basis with senior leaders at the OCC, Treasury, the Fed, and members of Congress.
“And just as this industry moved heaven and earth through the COVID crisis to make sure main street America could thrive, and we continue to prove that we are there for consumers and small businesses through thick and thin—no matter the challenge.”
Specifically citing the importance of working collaboratively with the Consumer Financial Protection Bureau (CFPB), she said:
“CBA has a long, productive history of working with policymakers across the ideological spectrum to promote a safe, fair, and competitive marketplace.
“We are so delighted to have CFPB Director Chopra here with us tomorrow to help us advance the dialogue that we will continue when we are back in DC.
“And I assure you that while we may not agree on various proposals, we will be more productive by working together—and that collaboration will greatly benefit the consumer.”
Johnson concluded her remarks by saying:
“Despite the incredible disruption in our industry, people need and rely on their banks more than ever. In fact, a recent poll revealed that Americans have more confidence in banks than they do in large technology companies, crypto, the Supreme Court, and the Presidency.
“Why? Because banks make it possible. We make it possible for every American to pursue their dreams: to buy a house, a car, to send our kids to college and to start a business.
“That is our true story. And we won’t let anything stop us from telling the story of who we are, what we do, where we are today, and how we’ll be there for our customers tomorrow.”
Entering its 14th year, CBA LIVE attracts the top leaders and influencers from across the country who gather to discuss the most pressing issues facing the retail banking industry. With more than 70 hours of dynamic programming and 14 forum sessions tailored to different bank segments, CBA LIVE offers key insights for professionals motivated to learn new trends and share ideas with the most influential decision makers in the business. To watch key events from this year’s conference, visit CBA’s dedicated livestreaming page by clicking HERE.