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For Immediate Release
May 22, 2018
ABA Media Contact: Ian McKendry
(202) 663-5473
Email:imckendry@aba.com
Follow us on Twitter: @ABABankers

ABA Applauds House Vote on Regulatory Reform

By Rob Nichols, ABA president and CEO

​“Today’s successful bipartisan House vote marks a turning point in the banking policy debate in this country. For the first time in nearly a decade, lawmakers from both parties have chosen to right-size financial rules that were not working as intended and holding the economy back. There is certainly more to do to recalibrate regulations and tailor them based on a bank’s risk profile and business model, but the common-sense changes included in S.2155 will help America’s banks, particularly community banks, get back to the basics of lending to creditworthy borrowers and businesses.

“We thank the House Republicans and Democrats who voted to grow the economy and expand consumers’ access to credit. In particular, we want to thank Chairman Jeb Hensarling, members of the House Financial Services Committee and Speaker Paul Ryan for their steadfast support of financial regulatory reform. Their leadership helped deliver this win for the American people and the U.S. economy. We also want to again thank Senate Banking Committee Chairman Mike Crapo and Senators Jon Tester, Heidi Heitkamp, Joe Donnelly and Mark Warner for crafting this compromise legislation. We look forward to President Trump signing this bill into law and seeing the benefits it will provide to customers and communities that banks serve across the country.”

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. Learn more at aba.com.

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