Media Releases
July 28, 2021WASHINGTON – Consumer Bankers Association General Counsel and Senior Vice President, David Pommerehn, will testify before the Senate Banking Committee on Thursday on the shared goal of protecting and expanding consumers’ access to affordable credit, and how proposals to arbitrarily impose interest rate caps would stifle those efforts, ultimately harming individuals and families. Ahead of Thursday...
July 27, 2021WASHINGTON – In a new letter sent to the U.S. Senate Banking Subcommittee on Economic Policy ahead of their Tuesday hearing entitled “Protecting Student Loan Borrowers and the Economy in Upcoming Transitions,” Consumer Bankers Association President and CEO Richard Hunt outlined the need to reimpose limits on unrestrained federal student lending to immediately address the rising student debt...
July 27, 2021WASHINGTON – CBA President and CEO Richard Hunt today issued the following statement congratulating 55 bankers who graduated today from CBA’s Executive Banking School, celebrating its 70 th anniversary as retail banking’s premier program designed to train future leaders in the industry. Despite being held virtually this year, EBS 2021 was sold out with nearly 300 bankers participating from more...
July 21, 2021WASHINGTON – CBA President and CEO Richard Hunt today issued the following statement recognizing the 10th anniversary of the Consumer Financial Protection Bureau (CFPB): “The CFPB’s mission of increasing transparency and fairness and clearly defining the rules of the road is profoundly important and a mission CBA has long championed. “Over the last 10 years, the Bureau has taken some important...
July 20, 2021WASHINGTON –CBA President and CEO Richard Hunt today issued the following statement after the Office of the Comptroller of the Currency (OCC) announced its decision to move forward with a repeal of the June 2020 Community Reinvestment Act (CRA) rule and continue working with the Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on a joint rulemaking process to modernize...
July 19, 2021WASHINGTON – CBA President and CEO Richard Hunt today released the following statement after many of the nation’s leading financial institutions reported strong Q2 financial positions last week, highlighted by consumer spending returning to pre-pandemic levels as well as an anticipated rise in consumer borrowing: “During the worst of the pandemic-related economic shutdown, America’s leading banks...
July 16, 2021WASHINGTON – The Consumer Bankers Association and the Bank Policy Institute today provided a response to the FDIC’s Request for Information on the digital activities of banks. Given that FinTechs are generally subject to little to no regulation or examination, it is clearly easier for them to innovate in the digital assets space – for example, by issuing or offering trading in cryptocurrencies...
July 12, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt today released the following statement recognizing the 70 th anniversary of CBA’s Executive Banking School, being held virtually this year July 18-28. “Being chosen to attend EBS is a great achievement, reflecting the confidence and trust bank leadership has placed in their future leaders. As the banking industry rapidly...
CFPB, Consumer Protection, Digital Innovation & Mobile Banking, Regulatory Compliance & Agency Engagement, Talent & Workforce ManagementJuly 9, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Biden Administration released a sweeping anti-trust executive order that will direct the Consumer Financial Protection Bureau (CFPB), prudential regulators and other federal agencies to examine activity on mergers and acquisitions within the banking sector: “ Our nation’s leading...
June 30, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt today released the following statement in opposition to the Overdraft Protection Act, legislation re-introduced by Rep. Carolyn Maloney (D-NY) that threatens consumers’ access to safe and secure short-term liquidity: “Many customers who choose to participate in an overdraft program view it as a valuable service that enables...
