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CBA Applauds Senate Passage of Financial Regulatory Reform Bill
WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Senate overwhelmingly passed S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act:
“This is a good, commonsense bill deserving of the bipartisan support it received and the House of Representatives should begin their consideration as soon as possible.
“CBA and our members believe this legislation will allow many U.S. banks to increase lending to families and small businesses as well as invest in their workforce and infrastructure. I hope this is the first of several steps to make sure regulations meet the dual goal of protecting consumers and helping our economy thrive.
“We will continue working with Republicans and Democrats in Congress on future improvements like establishing a bipartisan commission at the CFPB and giving regulators flexibility to evaluate risk at financial institutions of all sizes.”
NOTE: Last week, CBA sent a letter in support of the bill to Senate leadership.
About the Consumer Bankers Association
The Consumer Bankers Association represents America’s retail banks above $10 billion in assets. We advance legislation and promote policies geared toward creating a stronger industry and economy. Established in 1919, CBA’s corporate member institutions account for 1.6 million jobs in America, extend roughly $3 trillion in consumer loans, and provide $270 billion in small business loans. Follow us on Twitter @consumerbankers.