For Immediate Release
February 3, 2017
ABA Media Contact: Jeff Sigmund
(202) 663-5439
Email: jsigmund@aba.com
Follow us on Twitter: @ABABankers

ABA Statement on President Trump's Executive Order on Financial Regulations

By Rob Nichols, ABA president and CEO

  “While banks have continued to meet the needs of their customers, clients and communities to the best of their ability, they have faced tremendous headwinds that came with a sharp increase in highly prescriptive government regulation and the sheer weight of more than 24,000 pages of proposed and final Dodd-Frank rules.
 
     “We appreciate the administration’s support for pro-growth policies so banks can go even further in helping communities and our economy thrive. Reducing the strong regulatory headwinds banks face is critical to increasing lending that drives job creation across America.
 
     “A sensible and careful review of Dodd-Frank and other financial regulations can and should strengthen those goals while unleashing the power of the banking industry — from small towns and communities to our nation’s financial centers — to fuel the increase in economic prosperity that we all seek. We look forward to working in a bipartisan manner with the administration, Congress and bank regulators on policy changes that will keep banks strong and focused on providing the capital that is so essential to rebuilding our economy.”
 
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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 $9 trillion in loans.