âIt’s hard to leave something you love – that’s why I stayed a little longer than expected – but now it’s time for a new leader to take the helm,â he said.
Hunt will continue to serve as President and CEO over the coming months and will work with the group’s search committee to find a new leader.
âIt has been an honor and a privilege to serve the Consumer Bankers Association for the past 13 years,â he said. âI loved every minute of being part of the ABC family, without whom the success of this organization would not have been possible.
The move comes at a time when the banking industry faces intense competition from nascent tech companies and prepares for an overhaul of anti-redlining rules under the Community Reinvestment Act – issues that are at the heart of concerns. members of the CBA. The group’s members include the nation’s largest retail banks, including JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, US Bank, PNC and Capital One.
The ABC has been at the center of some of the banking industry’s biggest battles with lawmakers and regulators under Hunt’s leadership, most recently fighting new IRS reporting requirements in the Expenditure Bill. social work of the Biden administration. The provision, which met with opposition from Sen. Joe Manchin (D.-W.Va.) and some House Democrats, was ultimately removed from the latest version released by the White House last month.
Hunt also led a coalition of more than 100 businesses and loan groups that pushed Congress to streamline the rules for canceling emergency small business loans issued during the pandemic under the Paycheck Protection Program. .
A native of Louisiana, Hunt is also known in Washington for his oversized personality, Southern accent, and irreverent humor, often posted on his Twitter account, which he uses to berate lawmakers or regulators and cheer on the Atlanta Braves.
Prior to joining the CBA, Hunt was Senior Vice President of Federal Policy for the Securities Industry and Financial Markets Association. He began his career in Washington in 1989 as a driver for the then Rep. Jim McCrery – a Republican from Hunt’s home state, Louisiana – eventually became a district representative and later a chief of staff.
“There is no doubt that Richard will be sadly missed by the CBA, and I have no doubts that his legacy will last for decades,” said Michelle Lee, CBA Board of Directors and Regional Banking Executive for Wells Fargo Bank Branches. , in a press release. Wednesday.