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RegFi Podcast
Consumer Banking in a Rapidly Changing Competitive and Regulatory Environment
Sep 18, 2024
Kelvin Chen, Senior Executive VP and Head of Policy at the Consumer Bankers Association, shares insights from his extensive experience in regulatory affairs. He discusses the evolving landscape of consumer banking and the Credit Card Confidence Campaign aimed at enhancing consumer understanding. Chen highlights the impact of tech advancements like AI in banking regulations, the need for cohesive federal guidelines, and the importance of communication between regulators and the industry to ensure consumer protection.
31:18
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Quick takeaways
- The Consumer Bankers Association's 'Credit Card Confidence Campaign' aims to enhance consumer education and mitigate misconceptions about credit card usage among young adults.
- The podcast highlights the urgent need for regulators to adapt to technological advancements and collaborate with the banking industry to develop effective frameworks amidst competitive pressures.
Deep dives
Role of the Consumer Bankers Association
The Consumer Bankers Association (CBA) serves as a pivotal trade association representing retail banking, with over a century of focus on consumer issues. It facilitates collaboration among approximately 600 bankers to share insights and tackle regulatory challenges, emphasizing a unified voice in Washington, D.C. The CBA also operates an executive banking school, offering a specialized education akin to a banking MBA. Through advocacy and communications, the association aligns member interests while maintaining relationships with other banking groups to address common challenges.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode