CBA Statement On White House Announcement Endorsing New Regulations For Banks

Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today released the following statement after the White House endorsed several proposals that would increase regulatory requirements for the banking industry before policymakers have completed a comprehensive review of the collapses of Silicon Valley Bank and Signature Bank.

“America’s leading banks are strong, resilient, and well-capitalized. The highly competitive financial system is the most-well-regulated in the world. As Washington takes stock of recent events, we urge policymakers to respond in a measured manner. Now is not the time for knee-jerk political reactions that could adversely harm the millions of Americans banks serve while they contend with ongoing economic headwinds.”

Background

Yesterday at CBA LIVE, Johnson moderated a panel discussion on what’s NEXT for banks in the wake of the Silicon Valley Bank failure featuring former FDIC Chair Jelena McWilliams, former head of retail at PNC Neil Hall, and Brookings Institute Senior Fellow Aaron Klein. To learn more, click HERE.

During her presidential address on day one of CBA LIVE, Johnson reinforced the strength, resiliency, and unity of the banking industry in the wake of recent uncertainty in the marketplace. To learn more, click HERE.