CBA Consumer Bankers Association : Statement on CFPB Consumer Taskforce Report

CBA Statement on CFPB Consumer Taskforce Report

WASHINGTON - Consumer Bankers Association President and CEO Richard Hunt issued the following statement on the Consumer Financial Protection Bureau Taskforce on Federal Consumer Financial Law's report on ways to modernize and harmonize federal consumer financial laws:

'The CFPB, Taskforce members and Director Kraninger should be commended for undertaking this important initiative. Consumers are best served within the well-regulated banking industry and ensuring the rules of the road are consistent, harmonized and adapted to meet the demands of modern consumers and modern banking practices will help ensure continued and expanded access to credit for all Americans.

'We look forward to reviewing the report and working with the Bureau on these and future recommendations.'

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About the Consumer Bankers Association:

The Consumer Bankers Association represents America's leading retail banks. We promote policies to create a stronger industry and economy. Established in 1919, CBA's corporate member institutions account for 1.7 million jobs in America, extend roughly $4 trillion in consumer loans and provide $275 billion in small business loans annually. Follow us on Twitter @consumerbankers.