CBA Commends House Appropriators for Passage of CFPB Commission & Other Reforms

June 9, 2016

 

Washington, D.C. (June 9, 2016) – Richard Hunt, President and CEO of the Consumer Bankers Association (CBA), today released the following statement in response to the passage of the House Appropriations Committee’s fiscal year 2017 Financial Services and General Government Appropriations bill out of the Committee.

“We applaud House appropriators for taking steps to make needed improvements to the CFPB on behalf of consumers.  Chief among the reforms is the creation of a five-person, bipartisan board that would preserve it as a stable, strong and effective regulator, regardless of a President Trump or Clinton.  CBA also appreciates the Committee requiring the Bureau to take a second look at its arbitration and small-dollar lending proposals before consumers are potentially harmed.  We are grateful the committee sees the wisdom in these commonsense improvements and encourage the full House and Senate to follow their lead in protecting consumers,” said CBA’s President and CEO Richard Hunt.

About CBA
The Consumer Bankers Association (CBA) is the trade association for today's leaders in retail banking - banking services geared toward consumers and small businesses. The nation's largest financial institutions, as well as many regional banks, are CBA corporate members, collectively holding two-thirds of the industry's total assets. CBA’s mission is to preserve and promote the retail banking industry as it strives to fulfill the financial needs of the American consumer and small business.

The Consumer Bankers Association is the recognized voice on retail banking issues in the nation’s capital. Founded in 1919, CBA provides leadership, education, research and federal representation on retail banking issues. For more information, please contact Maggie Seidel, mseidel@consumerbankers.com, (571) 447-0197 or visit www.consumerbankers.com.

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