Media Releases
July 20, 2021WASHINGTON –CBA President and CEO Richard Hunt today issued the following statement after the Office of the Comptroller of the Currency (OCC) announced its decision to move forward with a repeal of the June 2020 Community Reinvestment Act (CRA) rule and continue working with the Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on a joint rulemaking process to modernize...
July 19, 2021WASHINGTON – CBA President and CEO Richard Hunt today released the following statement after many of the nation’s leading financial institutions reported strong Q2 financial positions last week, highlighted by consumer spending returning to pre-pandemic levels as well as an anticipated rise in consumer borrowing: “During the worst of the pandemic-related economic shutdown, America’s leading banks...
July 16, 2021WASHINGTON – The Consumer Bankers Association and the Bank Policy Institute today provided a response to the FDIC’s Request for Information on the digital activities of banks. Given that FinTechs are generally subject to little to no regulation or examination, it is clearly easier for them to innovate in the digital assets space – for example, by issuing or offering trading in cryptocurrencies...
July 12, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt today released the following statement recognizing the 70 th anniversary of CBA’s Executive Banking School, being held virtually this year July 18-28. “Being chosen to attend EBS is a great achievement, reflecting the confidence and trust bank leadership has placed in their future leaders. As the banking industry rapidly...
CFPB, Consumer Protection, Digital Innovation & Mobile Banking, Regulatory Compliance & Agency Engagement, Talent & Workforce ManagementJuly 9, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Biden Administration released a sweeping anti-trust executive order that will direct the Consumer Financial Protection Bureau (CFPB), prudential regulators and other federal agencies to examine activity on mergers and acquisitions within the banking sector: “ Our nation’s leading...
June 30, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt today released the following statement in opposition to the Overdraft Protection Act, legislation re-introduced by Rep. Carolyn Maloney (D-NY) that threatens consumers’ access to safe and secure short-term liquidity: “Many customers who choose to participate in an overdraft program view it as a valuable service that enables...
June 29, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt sent a letter to the House Committee on Appropriations yesterday, opposing the “Postal Non-Banking Financial Services Modernization Pilot Program” included in the fiscal year 2022 Appropriations Act. Recognizing market participants in the well-regulated, well-supervised banking system already provide expertise and services...
June 28, 2021WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt today opposed the National Credit Reporting Agency Act in a letter to the House Committee on Financial Services’ Chair Maxine Waters (D-CA) and Ranking Member Patrick McHenry (R-NC) in advance of a legislative hearing this week examining the proposal. Hunt outlined several specific concerns with the legislation, including:...
June 24, 2021WASHINGTON – As the Administration and Congress evaluate proposals to address the nation’s federal student debt crisis, the Consumer Bankers Association supports improvements to federal higher education funding. In advance of Secretary Cardona’s Thursday testimony on Capitol Hill, CBA sent a letter to the House Committee on Education and Labor advocating for needed changes to federal student loan...
June 24, 2021WASHINGTON – CBA President and CEO Richard Hunt today released the following statement after the Federal Reserve announced the results of stress tests assessing the strength and resiliency of the nation’s financial institutions: “These results reaffirm what America’s leading banks have shown over the last 16 months: our well-capitalized, well-regulated banking system is safe, sound, and equipped...
