CBA Statement on Fed Regulatory Right-Sizing Vote

Nick Simpson

 

CBA Statement on Fed Regulatory Right-Sizing Vote

“Regulations should be tailored for the strength of our banking industry and adjust as necessary to balance oversight with ensuring banks can continue meeting consumer needs, fostering economic growth and ensuring financial stability.”

 

WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt released the following statement after the Federal Reserve Board of Governors voted to tailor prudential regulatory standards consistent with the bipartisan Economic Growth, Regulatory Relief and Consumer Protection Act, S. 2155:

 

“We appreciate the Fed taking steps to right-size regulations, as recommended in the bipartisan Economic Growth, Regulatory Relief and Consumer Protection Act.  

 

“Since the financial crisis, the nation’s largest banks have more than doubled their capital levels and all passed annual stress tests. Regulations should be tailored for the strength of our banking industry and adjust as necessary to balance oversight with ensuring banks can continue meeting consumer needs, fostering economic growth and ensuring financial stability.”

 

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About the Consumer Bankers Association:

The Consumer Bankers Association represents America’s leading retail banks. We promote policies to create a stronger industry and economy. Established in 1919, CBA’s corporate member institutions account for 1.7 million jobs in America, extend roughly $4 trillion in consumer loans and provide $275 billion in small business loans annually. Follow us on Twitter @consumerbankers