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For Immediate Release
March 14, 2018
ABA Media Contact: Jeff Sigmund
(202) 663-5439
Email: jsigmund@aba.com
Follow us on Twitter: @ABABankers

ABA Lauds Passage of Bipartisan Regulatory Reform Bill

By Rob Nichols, ABA president and CEO

​“We’re pleased to see the U.S. Senate’s strong, bipartisan vote in favor of financial regulatory reform.  This bill is an important step in right-sizing the rules for America’s banks, and it will allow financial institutions to better serve their customers and communities while maintaining safety and soundness.
 
“This legislation is the byproduct of years of hearings, input from hundreds of stakeholders and careful negotiations between lawmakers on both sides of the aisle who refused to ignore the serious issues facing financial institutions trying to grow the economy. The cooperation on this bill marks a long overdue and welcome return to the tradition of bipartisan banking policy in Washington. We hope it continues.
 
“Leadership is important during the legislative process, and we want to thank Leader McConnell and all the senators who voted for this legislation.  We especially want to thank Senate Banking Committee Chairman Mike Crapo and his original co-sponsors Senators Jon Tester, Heidi Heitkamp, Mark Warner and Joe Donnelly for steadfastly moving this effort forward. They showed how Washington can work when lawmakers of different parties come together to solve real problems.
 
“We know there is more to work to do on the congressional and regulatory front to more appropriately tailor banking regulations, but we are encouraged by the important progress in this legislation. We look forward to congressional leaders completing a final bill and sending it to the president’s desk for his signature.”
 
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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