The Consumer Bankers Association (CBA) has elected Christine Channels, head of community banking and client protection at Bank of America, as chair of the Board of Directors and Michelle Lee, executive vice president, head of Eastern region, consumer banking at Wells Fargo, as chair-elect.
Terms for CBA’s Board of Directors coincide with the October to September fiscal year.
“Established more than 100 years ago, CBA is the voice of retail banking,” Channels said in a news release. “I am proud to have been selected as this year’s chairwoman and am committed to working with my fellow board members to continue focusing on the important issues facing our industry today.”
CBA's board consists of senior retail banking executives at the nation’s leading financial institutions. Taken as a whole, CBA’s membership accounts for 1.7 million jobs in America and annually extend roughly $4 trillion in consumer loans, provide $275 billion in small business loans and originate the majority of private student loans.
CBA President and CEO Richard Hunt said, “The banking industry has been a source of strength and stability during the COVID pandemic. CBA’s membership and board of directors has led the way in serving the customers, small businesses and the banking industry by promoting sound policy and preparing the next generation of bankers. Just as the banking industry served as a source of strength and stability during the COVID pandemic, CBA will continue advancing the industry’s commitment to serving consumers and ensuring regulations allow banks to keep up with the demands of our customers.”
Channels succeeds Nitin Mhatre, executive vice president, head of community banking and marketing at Webster Bank. Mhatre will remain on the board as immediate past chair. Mhatre, Channels and Lee will comprise CBA’s administrative committee, which is charged with oversight of CBA’s operations.
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