Richard Hunt, the longtime leader of the Consumer Bankers Association, said Wednesday he will leave the trade group next summer.
Hunt became the CBA’s president and CEO in 2009 and has been in the middle of major banking policy debates since. That includes fights over the post-crisis Dodd-Frank Act that toughened rules on banks, its subsequent tweaks during the Trump administration and the industry’s response to the COVID-19 pandemic.
In a press release, Hunt said he has sought to “support our members, advocate for sound banking policy, champion the consumer benefits of retail banking and drive our industry forward.” He also noted he stayed on at the CBA longer than the 10 years he intended.
“It’s hard to leave something you love — which is why I stayed a little longer than I expected — but now it’s time for a new leader to take the helm,” Hunt said.
Hunt, 55, said he will help the CBA’s search committee to find a successor. Michelle Lee, the CBA board chair who is also a top branch banking executive at Wells Fargo, credited him for “working tirelessly with his team to remind policymakers” that the banking industry’s core mission is to help communities and “finance the American Dream.”
“There is no doubt Richard will be sorely missed at CBA, and I am confident his legacy will live on for decades to come,” Lee said.
Hunt has at times clashed with the Consumer Financial Protection Bureau, criticizing former Director Richard Cordray for what he viewed as opting for “regulation by enforcement” rather than by writing clear rules. He has lobbied the agency on issues ranging from
Hunt has also been a vocal critic of the federal student loan program,
The Louisiana native, who goes by @cajunbanker on Twitter, got his start on Capitol Hill as a driver for former Rep. Jim McCrery, a Louisiana Republican. He eventually rose to become McCrery’s chief of staff.
Before joining the CBA, Hunt was senior managing director at the Securities Industry and Financial Markets Association.
