Media Releases
February 3, 2022Ahead of FDIC Chairman Jelena McWilliams’s effective resignation tomorrow Consumer Bankers Association (CBA) President & CEO Richard Hunt released the following statement commending her for her years of service to the banking industry and the millions of Americans the agency serves: “Chairman McWilliams has served our nation and the banking industry with professionalism and class. As the head...
January 31, 2022As a modern-day alternative to traditional layaway, “Buy Now Pay Later” (BNPL) credit is taking the nation by storm and the number of Americans using these products has climbed 300% every year since 2018. In two new op-eds appearing in American Banker last week, the Consumer Bankers Association (CBA) and the Center For Responsible Lending (CRL) warned the added convenience of BNPL may also bring...
January 27, 2022In a new op-ed appearing in American Banker, Consumer Bankers Association (CBA) Assistant Vice President & Regulatory Counsel, Brian Fritzsche, examines the rapid growth of “But Now Pay Later” (BNPL) while advocating for policymakers to ensure all families receive the highest level of consumer protections, whether they choose a fintech, Big Tech, or a traditional bank to meet their needs...
January 26, 2022Consumer Bankers Association (CBA) President and CEO Richard Hunt today released the following statement after the Consumer Financial Protection Bureau (CFPB) launched a new initiative examining fees charged by banks and financial companies: “This is fuzzy math at its best and political theater at its worst, and another attempt by the Bureau to fearmonger without any credible data to back it up...
January 19, 2022Consumer Bankers Association President and CEO Richard Hunt today released the following statement after federal regulators approved SoFi Technologies’ acquisition of Golden Pacific Bancorp, Inc. and its wholly owned subsidiary Golden Pacific Bank, N.A., which has a national bank charter issued by the Office of the Comptroller of the Currency (OCC): “We commend SoFi for assuming the broad...
January 12, 2022In a new letter sent yesterday to members of the Federal Deposit Insurance Corporation (FDIC) Board of Directors, including Chairman Jelena McWilliams, Director Martin J. Gruenberg, Acting Comptroller of the Currency, Michael Hsu, and Director of the Consumer Financial Protection Bureau (CFPB), Rohit Chopra, Consumer Bankers Association (CBA) President & CEO Richard Hunt urged the agency’s...
January 11, 2022The Consumer Bankers Association (CBA) and Small Business Financial Exchange (SBFE) today released the Q3 2021 Small Business Lending Trends analysis , examining key credit information for America’s small businesses. The report, which is released quarterly, found that even as new credit accounts increased slightly from the previous quarter, small businesses continued to be cautious and...
January 6, 2022The Consumer Bankers Association, in a comprehensive comment letter to the Consumer Financial Protection Bureau (CFPB), outlined recommendations to protect and expand access to credit for small businesses and underserved communities. The letter follows the Bureau’s Notice of Proposed Rulemaking (NPRM) in September 2021 to expand data collection requirements for financial institutions in the small...
January 4, 2022This week, the Consumer Financial Protection Bureau (CFPB) will receive input from stakeholders in response to its Notice of Proposed Rulemaking (NPRM) to expand data collection requirements for financial institutions in the small business lending market under Section 1071 of the Dodd-Frank Act. Here’s what’s happening, why it matters and how the CFPB can protect access to credit for small...
December 31, 2021Consumer Bankers Association President and CEO Richard Hunt today issued the following statement after the Chairman of the Federal Deposit Insurance Corporation (FDIC), Jelena McWilliams, announced her intent to resign effective February 4, 2022: “As the head of the FDIC, Chairman McWilliams has served her nation and the banking industry with honor and distinction. Throughout this pandemic, she...
