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View from CBA October 10, 2014
CFPB Holds Event on Checking Accounts The CFPB hosted a forum in Washington, D.C. on Wednesday, October 8, 2014 which focused on consumer access to checking accounts. The event featured remarks from CFPB Director Richard Cordray, as well as presentations and moderated panel discussions. The CFPB focused in on a small percentage of consumers who do not qualify for a traditional checking account. While we strongly believeall consumers should have access to checking accounts with upfront fee disclosures and clear terms, we are required to comply with federal rules and regulations to ensure safety and soundness of the financial institution. This includes steps to guard against illegal or fraudulent activity. The CFPB made clear they are analyzing the information presented at the forum and will move forward while working with the industry to ensure suitable solutions to consumer access to basic checking accounts. CBA is working with all interested parties to come to practical solutions to benefit consumers.
A Republican sweep in November? Or will Democrats hold?
Mark your calendars for a membership call with Chris Cillizza on October 21, 2014 at 2 p.m. EST. CBA's Board of Directors heard from Washington Post political reporter Chris Cillizza while they were in town this past month. Now, all of our membership will have the opportunity to hear Chris give a run down on key races just days ahead of what is set to be a pivotal midterm election.
Mid-Tier Retail Executives Caucus in D.C.
Earlier this week we welcomed the Mid-Tier Retail Executive Forum to CBA Headquarters. It was a very productive day and a half of business discussion and meetings with the CFPB, OCC, and Federal Reserve. In addition to our substantive conversations with regulators, key business items discussed included the CFPB complaint database, QM/Non-QM Lending, and Digital Channels. Thank you to everyone who attended and to our sponsor Novantas. Chaired by CBA Board Member Bob Kottler, Executive Vice President, Director of Retail and Small Business, IBERIABANK, the Mid-Tier Retail Executive Forum is comprised of the heads of retail from CBA Member Banks in the $10B-$50B asset range.
CBA Board Members Honored in NYC
I was glad to join CBA Board Members Mary Navarro of Huntington Bank and Maria Coyne of KeyBank as they were honored as two of the "25 Most Powerful Women in Banking," hosted by American Bankerand sponsored by CBA. Honorees also included former CBA Board Member Carrie Tolstedt of Wells Fargo, Former CBA Government Relations Council Member Cathy Bessant of Bank of America and Former CBA Default Management Committee Member Barb Godin of Regions Financial. I saw many active CBA members in attendance, including CBA Chair-Elect Will Howle of Citi.
Huntington Bank was recently named a "most valuable player" by the Ohio Housing Finance Agency for its substantial increase in lending within the state agency's program for the 2013-14 fiscal year.