For Immediate Release
June 8, 2017
ABA Media Contact: Jeff Sigmund
(202) 663-5439
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ABA Statement on House Passage of Financial CHOICE Act

By Rob Nichols, ABA president and CEO

​     “Today’s House vote is an important step toward making much-needed regulatory reforms that will allow banks to better serve their customers and communities.  We applaud Chairman Hensarling and members of the House Financial Services Committee for their continuing efforts to fix financial rules that are holding back the U.S. economy, and doing little to enhance safety and soundness. We look forward to working with lawmakers in the House and Senate as this process moves forward.
     “While the Financial CHOICE Act contains a number of reforms ABA members have long supported, it would have been much stronger had a provision to repeal the Durbin Amendment been retained in the bill.  We will continue to let lawmakers know that a vote to keep the Durbin Amendment on the books is a vote for government price controls and against consumers.”   
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The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend more than $9 trillion in loans.