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ABA: The American Bankers Association
Statement
  • For Immediate Release
  • January 8, 2026

ABA Applauds Fed Decision to Resume Accepting Penny Deposits

“We applaud the Federal Reserve’s decision to resume accepting penny deposits at coin distribution locations beginning Jan. 14, which will help strengthen coin circulation nationwide. This important step directly addresses the concerns we previously raised and will help ensure banks are able to accept and process pennies during the transition away from new penny production. By reopening these channels, the Fed is taking practical action that supports consumers, retailers and financial institutions alike. We look forward to continued coordination with the Federal Reserve and Treasury to ensure a smooth and orderly transition.”

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $25.1 trillion banking industry, which is composed of small, regional and large banks that together employ over 2 million people, safeguard $19.7 trillion in deposits and extend $13.2 trillion in loans.

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