Unleash America's Potential

Pass Financial Regulatory Reform and Watch America Grow

America's banks help their customers reach their financial goals every day — whether that's buying a home, expanding a small business or saving for retirement — but they want to do even more to open doors of opportunity and lift the U.S. economy.

The problem? Layers of duplicative and ill-fitting financial rules are keeping creditworthy customers from getting loans they need.

The solution? Congress can pass targeted, commonsense changes that can allow banks to better serve their communities and grow the economy and jobs — without compromising the important gains we've made.

The good news? The House has already passed several regulatory reform provisions, and now a bipartisan bill with many of the same targeted changes – S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act – has been introduced in the Senate.

While there is more Congress and regulators can do to improve financial rules — like moving away from arbitrary asset thresholds to more tailored regulation — S. 2155 is a solid step towards right-sizing regulations.

Urge the Senate to pass S. 2155 so we can unleash America's potential. And thank these senators for putting people ahead of politics.

Sen. Mike Crapo (R-ID)
Sen. Joe Donnelly (D-IN)
Sen. Heidi Heitkamp (D-ND)
Sen. Jon Tester (D-MT)
Sen. Mark Warner (D-VA)
Sen. Bob Corker (R-TN)
Sen. Tim Scott (R-SC)
Sen. Tom Cotton (R-AR)
Sen. Mike Rounds (R-SD)
Sen. Claire McCaskill (D-MO)
Sen. David Perdue (R-GA)
Sen. Joe Manchin (D-WV)
Sen. Thom Tillis (R-NC)
Sen. Angus King (I-ME)
Sen. John Kennedy (R-LA)
Sen. Tim Kaine (D-VA)
Sen. Jerry Moran (R-KS)
Sen. Gary Peters (D-MI)
Sen. Jim Risch (R-ID)
Sen. Michael Bennet (D-CO)
Sen. Tom Carper (D-DE)
Sen. Chris Coons (D-DE)
Why it Matters What People are Saying Commonsense Fixes See Print Ad

Why it Matters

Rising Compliance Costs Are Contributing to the Shrinking Number of America's Banks

54% of Americans are concerned by the drop in U.S. banks over the last 10 years. Since the Dodd-Frank Act, the number of banks has fallen by nearly 2,000 while just 10 new banks have started.
Chart showing 10 bank entries for every 1,973 bank exits

Since the passage of the Dodd-Frank Act in July 2010, as of December 2017

Americans Are Concerned Washington Has Made It Too Difficult to Get a Loan

By a nearly 3-1 margin, adults say policymakers have made it too difficult for banks to lend money to start a business

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By a greater than 2-1 margin, adults say policymakers have made it too difficult for banks to lend money to buy a home

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By a nearly 2-1 margin, adults say policymakers have made it too difficult to get a loan in general

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Source: Morning Consult survey on behalf of ABA, June 2017

What People Are Saying

Quote symbol The bipartisan proposals on which we have agreed will significantly improve our financial regulatory framework and foster economic growth by right-sizing regulation, particularly for smaller financial institutions and community banks."

Senate Banking Committee Chairman Mike Crapo (R-ID), October 2017

Quote symbol This proposal makes targeted, commonsense fixes that will provide tangible relief to the community banks that are lifelines for smaller and rural communities. It also strengthens protections for veterans, the elderly and other consumers, and encourages community-based lending to boost economic growth and create jobs."

Senator Mark Warner (D-VA), October 2017

Quote symbol Our bill is an example of how if Democrats and Republicans put partisanship aside and work together, we can reach real compromises that support the country."

Senator Heidi Heitkamp (D-ND), October 2017

Quote symbol It doesn't help anyone for banks to waste money, if you will; to spend more money than they reasonably need to spend to accomplish these safety and soundness objectives. Those costs will fall on customers and borrowers and such. So it's our obligation, among other obligations, to make sure that regulation is efficient."

Federal Reserve Board Governor Jerome Powell, November 2017

Quote symbol Community banks face substantial regulatory burdens… It's very appropriate for the Fed and other bank regulators to look at ways to reduce the compliance burdens they face."

Federal Reserve Board Chair Janet Yellen, November 2017

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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.