Media Releases
April 13, 2020CBA Statement on Need for Additional PPP Funds WASHINGTON, D.C. – Consumer Bankers Association President and CEO Richard Hunt issued the following statement on the need for Congress to approve additional funding for the Paycheck Protection Program: “The Paycheck Protection Program has been incredibly popular with millions of small businesses submitting applications. The banking industry has...
April 9, 2020CBA Comment Letter on OCC-FDIC Community Reinvestment Act NPR Applauds efforts to increase consistency and transparency, proposes alternative approach in some areas WASHINGTON – The Consumer Bankers Association yesterday submitted comments to the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation on the agencies’ joint Community Reinvestment Act notice of proposed...
April 9, 2020Call materials for CBA Member Call on April 9, 2020 @ 4 p.m. ET About Economic Impact Payments EIP Timeline April 10 Direct deposit: About 75M transactions transmitted over 3 days April 15 Direct deposit funds available for consumers April 20 Check processing begins: Expect 5M checks to be issued weekly, with first batch released approximately May 4 (tentative) and continuing for as long as 20...
April 9, 2020Call materials for CBA Member Call on April 9, 2020 @ 4 p.m. ET About Economic Impact Payments EIP Timeline April 10 Direct deposit: About 75M transactions transmitted over 3 days April 15 Direct deposit funds available for consumers April 20 Check processing begins: Expect 5M checks to be issued weekly, with first batch released approximately May 4 (tentative) and continuing for as long as 20...
April 3, 2020CBA Statement on Updated Small Business Loan Guidance WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement on the updated guidance issued on the implementation of the Paycheck Protection Program, which is scheduled to start tomorrow and will be administered through the SBA 7(a) loan program: “Banks have been readily working around the clock to...
March 31, 2020CBA Statement on SBA Small Business Loan Stimulus Program *** “Banks are ready to do everything humanly possible to support U.S. small businesses and will continue working with SBA on ramping up a $20 billion annual program to nearly $350 billion in just a few months." *** Interested small businesses can learn more about participation in the Paycheck Protection Program here WASHINGTON – Consumer...
March 30, 2020Banks Working with Customers During COVID-19 Pandemic WASHINGTON, D.C. – The well-capitalized and well-regulated banking industry is deeply committed to serving customers, communities and small businesses facing economic hardships as a result of the coronavirus (COVID-19). Banks have already mobilized assistance programs and are eager to continue offering assistance as well as implement federal...
March 26, 2020CBA Statement on Bipartisan COVID-19 Stimulus Package WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after a bipartisan coronavirus stimulus package was released by Congressional and White House negotiators: “The nation’s leading banks are well-capitalized, well-positioned and already helping customers meet their financial needs during this...
March 26, 2020CBA: Consumers Need Small-Dollar Loans, Banks Need Clarity on Rules “Banks are ready, eager and already working with Americans and small-businesses. The flexibility regulators have given, combined with their statement today, will help banks more readily adapt to meet consumer demands.” WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after...
March 19, 2020CBA on COVID-19 CRA Consideration WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after Federal Reserve Board, Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency said the agencies would provide favorable Community Reinvestment Act consideration for certain retail banking services, retail lending and...
