How the Banking Industry, and Washington, Have Changed since 2009
Richard Hunt has been the leading voice for consumer banking in the U.S. for 13 years, and his advocacy for the financial services industry began long before that. This week, he will step down from his role as president and CEO of the Consumer Bankers Association, but he is NOT retiring. Richard talks with us about why term limits for politicians -- and trade association heads -- are a good thing, how Washington has changed over the years, and how the smartphone transformed banking.
We also get Richard's thoughts on working with the Consumer Financial Protection Bureau over the years, which was established just a couple years after he took the helm at CBA, and how he has grappled with two financial crises.
Key talking points:
Why it's time for a new voice at CBA (1:18 )
How the banking industry has evolved since the global financial crisis (3:13 )
How Washington has changed in the last 13 years (4:05 )
Differences between the 2008 crisis and the coronavirus crisis (5:09 )
How banks bolstered the economy through the pandemic (9:04 )
Working with the CFPB (10:41 )
How smartphones changed banking forever (14:35 )
What's next for Richard (16:52 )