- The Consumer Bankers Association (CBA) has named Lindsey Johnson to succeed longtime chief Richard Hunt as president and chief executive upon his retirement on July 5, according to a press release on Tuesday.
- Johnson is president of the US Mortgage Insurers (USMI), another trade organization, and will step down on June 6, according to a USMI press release.
- Johnson will be the first woman to lead the CBA and the only woman to lead a trade group representing major U.S. banks, a spokesperson for the organization told Banking Dive.
Overview of the dive:
Johnson will take the reins of the CBA from Richard Hunt, who has been president and chief executive of the trade association since 2009. Hunt announced considering resigning of the organization in November.
“Throughout her career, Lindsey has demonstrated her ability to lead teams, work with a wide range of stakeholders and deliver policy results, and she will be a strong advocate for our members and the industry,” Hunt said in the press release. “After 13 wonderful years as President and CEO of the CBA, I am convinced that Lindsey is the right leader [for] this truly amazing organization.
Johnson has led USMI, a trade association representing mortgage insurance companies, since 2015. She will help that organization’s board of directors plan for the leadership transition as it launches the search for a new president.
“I am honored to join an organization that has been the leading voice of American retail banking for more than a century,” Johnson said. “The banking industry is undergoing historic transformation – from the rise of new technologies that have changed the way consumers bank to increased regulatory pressures – and at every turn the CBA has helped its members anticipate and to successfully navigate new terrain in the 21st century.”
Johnson will be the first woman to serve as president and CEO of the CBA, and the only woman to head a trade organization representing major U.S. banks. The American Bankers Association, the Bank Policy Institute and the Financial Services Forum are run by men.
“With a deep knowledge of financial services and a proven track record of bipartisan advocacy, Lindsey is exactly the leader we were looking for to champion the work of our member banks, advance common sense policy solutions, and advocate for our industry and the customers we we serve,” Michelle Lee, the The chairman of the ABC board and head of regional banks at Wells Fargo, said in a press release.
The ABC, under Hunt, has locked horns with regulators over the student debt crisis and the Consumer Financial Protection Bureau’s investigation into overdrafts and “junk fees,” between other problems. More recently, the organization has expressed support for the CFPB’s invocation of the “sleeping authority” to crack down on non-banks.
Prior to heading USMI, Johnson served as a director at PricewaterhouseCoopers and as the Republican Staff Director for National Security and International Trade of the Senate Banking Committee and Finance Sub-Committee.
Johnson also worked as a senior policy adviser to former Sen. Mark Kirk, R-IL, and was a director of the Federal Home Loan Bank of Atlanta for seven years. Johnson represented the latter on several key legislative reforms for the industry, including the Housing and Economic Recovery Act of 2008 and the Dodd-Frank Act, according to their USMI business profile.