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CBA Statement Regarding Stress Test Results
Jean Marie Bunton
Washington, D.C. (March 7, 2013) – CBA President and CEO, Richard Hunt released the following statement regarding today’s stress test results:
“The results of the Federal Reserve stress test reaffirm our position that retail banks are in a significantly better position today than in the past two decades. The capital increases over the past few years are not temporary, but permanent changes in our industry. Banks are significantly safer and sounder today and will continue to be so in the future. Stress tests guarantee this and demonstrate our commitment to serving our customers.”
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 two-thirds 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.