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Richard's Rapid Fire - January 13, 2016
CFPB Straight Talk
Launching a campaign to deny consumers the benefits of financial reform, Sen. Elizabeth Warren is throwing fuel on the fire of an already misdirected debate regarding the future of the CFPB. Voicing strong opposition to Dodd-Frank reform, Sen. Warren is not doing consumers any favors with her rigid position. Americans from across the country understand they need financial laws, which work to their benefit. To accomplish this, certain aspects of Dodd-Frank need improvement. The fact remains: Consumers would be better served if the CFPB was led by a 5-person, bipartisan commission – a position Warren once held. With a commission, consumers would benefit from increased balance in the regulatory environment. They would no longer be subject to a constant moving of the regulatory goal posts.
On the other side of the isle, there are many Republicans who wish for the Bureau to be eliminated, or for Republicans to appoint a director of their own. There also have been reports suggesting President-elect Trump will “fire” Director Cordray after taking office.
CBA LIVE: Early Bird Pricing Ends In Just a Few Hours
Just a few hours remain to take advantage of CBA LIVE’s Early Bird pricing to save $300 on registration. Taking the opening snap at this year’s conference, former Dallas Cowboys quarterback Roger Staubach will headline Monday’s General Session. Staubach’s inspiring career as a business maverick, Heisman Trophy winner, Super Bowl MVP, Navy veteran and an entrepreneur who disrupted commercial real estate will provide the audience with a tone-setting keynote address you do not want to miss. Join us at the Gaylord Texan in Dallas, April 3-5, to hear Staubach share his strategies for building strong teams, leading through adversity and overturning conventional wisdom to stay ahead of the competition. Believe me, his story is unlike any other. If you haven’t already, be sure to reserve your spot at CBA LIVE 2017 today.
Obama to Trump: Passing the Torch
Can you believe we are just seven days away from Inauguration Day? President Obama bid farewell this past Tuesday at his final address in Chicago, just one week before President-elect Trump is expected to lay out his vision and officially be sworn in to our nation’s highest office. The Senate is already underway with confirmation hearings on key Trump appointments. It goes without saying, the next few weeks are bound to be a whirlwind. CBA will continue our fight for balanced, consumer-centric regulation, while also promoting quality leadership appointments at federal agencies. This is a pivotal time in Washington, and CBA will be at the forefront of the coming debates.
CNN Town Hall with Speaker Paul Ryan
On Thursday, I had the opportunity to attend a town hall hosted by CNN’s Jake Tapper and featuring House Speaker Paul Ryan. The town hall included an intimate crowd of people from all walks of life. From teachers to lobbyists, from democrats to republicans, the town hall was an opportunity for Speaker Ryan to connect with the public and answer their most pressing questions. All in all, it was good experience and I am glad to have had the chance to listen to the Speaker detail his plans for the 115th Congress.
Membership Spotlight: Wells Fargo Embraces the Next Generation of Banking
There is no denying a tech revolution in banking is here: Consumers are increasingly using online and mobile banking methods as opposed to traditional ones. Just this week, Pew Research Center released a study which found 77% of American adults use a smartphone, more than double the total in 2011. Taking steps to sync up with consumer demand, Wells Fargo announced plans to enable all 13,000 of their ATMs with card-less, smartphone-based banking options. It is great to see our members showcasing their commitment to consumers and innovation.
Sharing CBA’s Mission with Women in Housing & Finance
This week, I spoke about CBA’s 2017 top priorities at a public policy luncheon hosted by Women in Housing & Finance. In the coming year, CBA will remain laser-focused on CFPB reform, promoting balanced regulation in Washington and providing for the next generation of banking. As I told the group, I am bullish on the future of banking. While no one knows for certain what 2017 may hold, I do see a path forward – a path where American consumers will continue to come first. One thing is for sure: It is a fascinating time to be in Washington, D.C.
CBA Team Visits Membership
Members of Team CBA touched down in Texas this week to visit with a few of our most dedicated members. I was glad to hear about their productive discussions with Christy Merecka of Frost Bank, Rick Ledezma and Yvonne De La Rosa of San Antonio Federal Credit Union, Chuck Smith, Margaret Hartenstine and Tony Warden of Texas Dow Employees Credit Union, Anna Arvia, Sara Efune and Shauna Brown of USAA and Lori von Heyking of Woodforest National Bank. It seems to me our member banks are excited to take advantage of CBA OnSite Education opportunities.
CBA's Melissa Cabocel and Brenda Mechling discussing CBA OnSite Education with Woodforest National Bank's Lori von Heyking
Team CBA stopped by Texas Dow Employees Credit Union to meet with CBA Executive Banking School graduates Chuck Smith, Margaret Hartenstine, and Tony Warden.
Three Things to Know to Be In the Know
Epsilon has joined CBA as a Sapphire sponsor.
José S. Suquet was named to Regions Financial's Board of Directors.