Publication

But ultimately, having more Republicans in the Senate is perhaps more useful, said Richard Hunt, head of the Consumer Bankers Association. That’s because moderate Democrats were still hesitant to support initiatives helpful to industry for fear of blowback from their more progressive colleagues, he said.

“Banks have long supported community financial education efforts and have provided free financial education tools through multiple channels to all consumers, regardless of a bank-customer relationship,” David Pommerehn, CBA vice president and associate general counsel, said. “Most importantly, CBA strongly urges the Bureau to focus more attention on youth-based education opportunities.

Richard Hunt, president and CEO of the Consumer Bankers Association, said the bureau should consider all aspects of the rule, not just the ability-to-repay requirements, “to prevent unintended consequences for loans the original rule was not intended to cover.”

The proposal earned praise from outgoing House Financial Services Chairman Jeb Hensarling (R-Tex.), who said in a statement he wishes it went further but it nevertheless provides “much needed clarity.” 

Richard Hunt, President and CEO of the Co

CBA President and CEO Richard Hunt penned this op-ed on the state of student lending, college debt and ways to address this looming crisis. In the piece, he corrects some of the most common myths surround student lending as well as some of the policy proposals CBA has recommended to ensure federal funds help those most in need while helping students and parents responsibly finance higher education goals without taking on debt they will never be able to repay.

Financial trade organizations voiced support for the bill in a Sept. 12 joint letter to the committee.

The Consumer Bankers Association (CBA) has endorsed U.S. Bank’s new Simple Loan product, which provides a more cost-effective option for short-term loans for consumers.

During a recent interview, incoming CBA Board Chair, Todd Barnhart of PNC Bank, discussed our legislative and regulatory priorities for the upcoming year. CBA will shift its lobbying efforts to focus primarily on federal regulators rather than lawmakers.

The Office of the Comptroller of the Currency kicked off a process Tuesday that could lead to an overhaul of regulations around bank lending in underserved areas.