For Immediate Release
March 31, 2016
ABA Media Contact: Sarah Grano
(202) 663-5470
Email: sgrano@aba.com
Follow us on Twitter: @ABABankers​

ABA Applauds OCC’s Efforts on Innovation

By Rob Nichols, ABA president and CEO

“We applaud the forward-looking efforts announced by the OCC today, and support any measure that allows banks to better innovate for the benefit of their customers and local economy.
 
“The OCC’s focus on responsible innovation lines up with our core belief that banks should be empowered to innovate and that consumers should feel confident they have the same protections when doing business with any financial services provider -- bank or a non-bank.
 
“Banks are helping consumers by delivering innovative products and pursing new partnerships. The OCC’s efforts are an important piece of a broader discussion on how fintech fits into the current regulatory structure.
 
 “We look forward to continuing our collaboration with the OCC to ensure banks remain leaders of financial innovation.”
 
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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.