For Immediate Release
October 12, 2017
​ABA Media Contact: Jeff Sigmund
(202) 663-5439

Email: jsigmund@aba.com
Follow us on Twitter: @ABABankers

ABA Statement on Today’s House Financial Services Committee Markup

By James Ballentine, ABA’s executive vice president of congressional relations and political affairs

​     "We applaud Chairman Hensarling and members of the House Financial Services Committee for voting to approve several bipartisan regulatory reform proposals that would allow banks to better serve their customers and communities.  These ABA-advocated bills are critical components of ABA’s Blueprint for Growth
 
     “We strongly support the Tailor Act, which would require regulators to tailor their actions to meet the diverse characteristics of different banks, and legislation that would replace the Systemically Important Financial Institution designation with a more nuanced, customized measurement.  ABA was also pleased to see legislation that would address several other important areas, including custody bank issues, increasing the CFPB oversight threshold, Operation Choke Point, Home Mortgage Disclosure Act reporting relief for smaller banks, repealing the Department of Labor’s fiduciary rule, providing relief for smaller lenders on escrow practices, and providing technical clarifications on privacy notices.
 
     “We hope the full House will move quickly to approve these important bills, and that the Senate will also act expeditiously to approve commonsense regulatory reform that will allow America’s banks to do even more to grow the economy and create jobs.” 
 
 
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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.