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For Immediate Release
July 6, 2018
ABA Media Contact: Ian McKendry
(202) 663-5473
Follow us on Twitter: @ABABankers

ABA Applauds Banking Regulators for Actions to Implement S. 2155

By Rob Nichols, ABA President and CEO

​“We applaud federal banking regulators for taking important steps to implement ABA-supported policy changes recently passed by Congress. This represents a wide-ranging effort to act consistently with both the letter and spirit of the regulatory reform law so that banks can better serve their customers and communities.
“Today’s action will spare many banks from having to participate in stress tests that both regulators and banks have said provided little value and only distracted from more effective safety and soundness tools. Instead of a one size fits all approach, regulators are now bringing us closer to a program of tailored supervision in stress testing, which will allow banks to devote more of their time and resources to serving their customers and communities and helping grow the U.S. economy. We hope regulators will move quickly to tailor regulations for banks of all sizes as directed by the new law.
“We also appreciate regulators’ actions to improve the process for living wills, commercial real estate loans, the Liquidity Coverage Ratio and the Volcker Rule, among others. We understand these announcements are interim steps, and look forward to providing comment as agencies consider permanent changes to tailor these regulations going forward.”
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 nearly $10 trillion in loans.
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