Media Releases
July 7, 2020CBA Statement on CFPB Small Dollar Rule WASHINGTON, D.C. – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Consumer Financial Protection Bureau released a final small dollar rule: “CBA is pleased the Bureau’s amended small dollar rule will help banks provide much needed small dollar loans to consumers in need. “ Millions of Americans live...
June 30, 2020CBA on Paycheck Protection Program Application Deadline WASHINGTON, D.C. – Consumer Bankers Associations President and CEO Richard Hunt issued the following statement on today’s (June 30 th ) deadline for submitting Paycheck Protection Program applications: “America’s small businesses, and the millions of men and women who work at them, are the foundations of communities across the country and...
June 30, 2020CBA, BPI Applaud Introduction of Targeted PPP Forgiveness Legislation WASHINGTON – The Consumer Bankers Association and Bank Policy Institute today issued the following statement after the introduction of bipartisan legislation from Sens. Kevin Cramer (R-N.D.), Bob Menendez (D-N.J.), Thom Tillis (R-N.C.) and Kyrsten Sinema (D-Ariz.) to forgive Paycheck Protection Program loans for the smallest...
June 29, 2020CBA Statement on Supreme Court CFPB Ruling WASHINGTON, D.C. – Consumer Bankers Associations President and CEO Richard Hunt issued the following statement after the U.S. Supreme Court ruled in Seila Law LLC v CFPB the Consumer Financial Protection Bureau’s leadership structure was unconstitutional and changed the Bureau’s single director from a position which could only be fired for cause to a...
June 16, 2020CBA Statement on FDIC Quarterly Banking Profile WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Federal Deposit Insurance Corporation released its Quarterly Banking Profile for the first quarter of 2020: “Despite the global health and economic impact of COVID-19, the banking industry has, according to the FDIC, been a source of...
June 11, 2020CBA Board Elects Bank of America’s Christine Channels as Chair-Elect WASHINGTON – The Consumer Bankers Association’s Board of Directors this week elected Christine Channels as its new Chair-Elect, positioning her to be CBA’s Board Chair for the upcoming fiscal year. Channels is Head of Community Banking and Client Protection at Bank of America. Nitin Mhatre, Executive Vice President and Head of...
June 11, 2020CBA Commitment to Racial Equality WASHINGTON – Following a meeting of the Consumer Bankers Association Board of Directors, CBA issued the following note reiterating the association’s commitment to racial equality: “Everyone who participated in this week's Board meeting has been moved by the protests we have seen over the last several weeks brought about by the deaths of George Floyd, Ahmaud...
June 9, 2020CBA Writes Senate Small Business Committee Prior to PPP Hearing In advance of hearing, CBA reiterates call for automatic forgiveness for smallest PPP recipients WASHINGTON – In advance of the Senate Small Business Committee hearing with Treasury Secretary Steven Mnuchin and Small Business Administration Administrator Jovita Carranza examining the implementation of the Paycheck Protection Program...
June 2, 2020Automatic PPP Forgiveness Would Save Small Businesses Billions Automatically forgiving smallest PPP loans would save small businesses more than $7 billion and 70 million hours of labor WASHINGTON – The Consumer Bankers Association and Bank Policy Institute today called on Congress to pass legislation automatically forgiving Paycheck Protection Program loans of $150,000 and less. Approximately 85...
May 29, 2020CBA on OCC “Valid When Made” Final Rule WASHINGTON, D.C. – The Consumer Bankers Association today released the following statement after the Office of the Comptroller of the Currency issued a final rule clarifying the “valid when made” standard on the sale and purchase of loans: “CBA appreciates the OCC’s efforts to clarify years of uncertainty caused by the Madden case,” said CBA President and...
