CBA - Consumer Bankers Association

12/01/2020 | Press release | Distributed by Public on 12/01/2020 23:25

CBA Statement on FDIC Quarterly Banking Profile

CBA Statement on FDIC Quarterly Banking Profile

WASHINGTON - Consumer Bankers Association President and CEO Richard Hunt issued the following statement on the Federal Deposit Insurance Corporation's quarterly banking profile:

'The FDIC's third quarter report revealed strong capital levels and historically low problem bank numbers,a testament to the industry's efforts to build a solid, resilient foundation able to withstand major economic headwinds.

'The banking system has remained a source of strength for consumers and small business during the pandemic, making decades worth of small business loans in the past few months and proactively working to help consumers in need. CBA will continue working with regulators and the industry to ensure balanced policies.'

###

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.