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NEWS RELEASE
Feb. 18, 2009
ABA Media Contact: Jim Eberle
(202) 663-5477
E-mail: jeberle@aba.com
ABA STATEMENT ON PRESIDENT’S PLAN TO PREVENT FORECLOSURES
by Diane Casey-Landry, ABA senior executive vice president
and chief operating officer
"The American Bankers Association welcomes the Homeowner Affordability and Stability Plan announced today by President Obama. The plan is a constructive, flexible and multifaceted initiative likely to have a positive effect on preventing mortgage foreclosures. The ABA is committed to working closely with the administration as it completes the remaining details of the plan.
"In particular, the plan is:
- A major commitment of funding sufficient in scope to have a significant impact.
- Aimed at those at-risk homeowners most likely to avoid foreclosure under the planned assistance and incentives.
- Designed to include market incentives, and to complement and reinforce industry initiatives and FHA programs."
The American Bankers Association brings together banks of all sizes and charters into one association. ABA works to enhance the competitiveness of the nation's banking industry and strengthen America’s economy and communities. Its members – the majority of which are banks with less than $125 million in assets – represent over 95 percent of the industry’s $13.3 trillion in assets and employ over 2 million men and women.
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