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Statement of Richard Hunt, President and CEO, Consumer Bankers Association, in Response to the Fed’s Unanimous Vote Today on Basel III Capital Requirements
Washington, D.C. (July 2, 2013) – CBA is pleased the Fed addressed our concerns regarding the complex residential mortgage risk-weighing calculations in their original proposal. In today’s economic environment, staying with current capital requirements for mortgages will help ensure consumers have access to affordable home loans and home equity products. CBA will continue to monitor regulatory developments to ensure further rulemaking proposals will not impede our member banks’ ability to serve their communities.
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.