For Immediate Release
January 12, 2016
ABA Media Contact: Sarah Grano
(202) 663-5470
Email: sgrano@aba.com
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ABA Applauds FHFA Action on FHLB Membership

By Rob Nichols, ABA president and CEO

“We’re pleased that FHFA listened to the more than 1,300 comment letters from ABA, state associations and banks opposing this provision. There was no demonstrable need for the proposed changes, which contradicted congressional intent and would have harmed the FHLBs, their member banks and the communities they serve.”
 
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The American Bankers Association is the voice of the nation’s $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $8 trillion in loans.