CBA Statement on Federal Reserve’s Revisions to Capital Requirements Proposal

WASHINGTON, D.C. – Consumer Bankers Association (CBA) President and CEO Lindsey Johnson released the following statement in response to Federal Reserve Vice Chair for Supervision Michael Barr’s remarks today indicating the agency would revise its capital requirements proposal:

“As we have long said, this proposal would significantly constrain banks’ ability to meet the lending needs of the millions of consumers and small businesses they serve. Given the economic headwinds millions of consumers face today, it’s more important than ever that regulators in Washington understand the cumulative impact regulations like this will have on the nearly two-thirds of consumers who are living paycheck to paycheck.

“Moving forward, CBA will continue to emphasize the clear reality that America’s leading banks remain well-capitalized, globally competitive, and have proven their resiliency to withstand the most severe economic scenarios.”

CBA Advocacy

• To read CBA’s white paper that highlights the impact of Basel regulations on consumers on the margins of the financial system, click HERE.
• To read CBA’s comment letter on the Basel III Endgame proposed rule, click HERE.
• To read CBA President and CEO Lindsey Johnson’s statement on the Fed’s initial Basel III Endgame proposal, click HERE.