Ross Carey is executive vice president and business banking division head at US Bank. Carey serves as chairman of the Consumer Bankers Association board, and he previously served as chairman of CBA’s Government Relations Council.
How do you view your role as the chairman of the Consumer Bankers Association?
Ross Carey: With over two-thirds of the retail banking industry’s total assets, our membership plays a big role in the daily lives of millions of Americans. As chairman, I am working to ensure the financial needs of American consumers and small business are met. As a voice for the industry, it is important to highlight the positive impact banks have on the lives of consumers. From financing a family home to a graduate degree to a car to get to work, banks help consumers achieve the American Dream. As bankers, we are proud of our work and the services we provide our customers.
What are CBA’s major legislative and regulatory priorities for 2017?
Ross Carey: CBA is laser-focused on the following four issues: Our first priority is providing consumers with a strong, stable and effective regulatory agency capable of properly enforcing consumer financial protection laws. The Consumer Financial Protection Bureau’s mission is too important to consumers to be subject to traumatic shifts in its leadership. This is why a five-person, bipartisan commission at the bureau makes sense.
Second, Washington must implement consumer-friendly regulations without stifling consumer access to credit. This is why CBA remains focused on working with regulators and federal legislators to discuss how specific policies affect consumers.
Third, the Trump administration will make many meaningful regulatory appointments over the next couple years. CBA will support candidates based upon their commitment to serving and meeting the financial needs of consumers. CBA has been working with President-elect Trump’s transition team to ensure potential nominees meet this important criteria.
Finally, CBA members remain committed to meeting the needs of the communities they serve. Additionally, they must also be aware of opportunities available to serve consumers through alternative channels, such as mobile and internet banking. We are dedicated to ensuring customers’ needs are being met fairly and responsibly by banks, while working with policymakers to ensure options to the traditional branch network remain available.
How does CBA provide value to its membership?
Ross Carey: Each and every day, CBA works on behalf of our membership. Beginning with our member-driven committee structure, which delivers in-depth analysis and discussion on prominent retail banking issues, to our advocacy efforts with Washington policymakers, we ensure our membership’s voice is heard loud and clear. We also provide members with the opportunity to immerse their brightest bankers in our Executive Banking School, which equips the industry’s next generation leaders with the vital skills and perspective to successfully navigate the complexities of tomorrow. Above all, CBA provides its members with access to policy experts and thought leaders via webinars, real-time alerts of key industry developments, and at CBA LIVE -- the retail banking industry’s annual premier event.