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CBA Statement on 2014 Midterm Elections
Washington, D.C. (November 5, 2014) – CBA’s President and CEO Richard Hunt issued the following statement on the 2014 midterm elections:
“Last night’s election gives new opportunity to break the gridlock in Washington. American consumers want Congress to work together with the President to enact commonsense reforms to our nation’s regulatory regime. Five years on from the enactment of Dodd-Frank we can look back at the impact of the law and its effect on consumers. CBA looks forward to working with Members from both sides of the aisle to advocate for a commission-based CFPB leadership structure, in use at other banking regulators and to reform the FSOC veto authority among other changes to Dodd-Frank. The CFPB is the single most autonomous federal entity in existence; it ought to be as accountable and transparent to the American taxpayer as any other agency.”
Founded in 1919, 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 well over half 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.