This site uses cookies to improve your browsing experience, gather site analytics and activity, track shopping cart contents, and deliver relevant marketing information.
View our privacy policy and manage your settings here. By using our site you agree to these terms.
For Immediate Release
December 1, 2016
ABA Media Contact: Jeff Sigmund
(202) 663-5439
Email: jsigmund@aba.com
Follow us on Twitter: @ABABankers

ABA Applauds House Passage of Systemic Risk Designation Improvement Act (H.R. 6392)

By Rob Nichols, ABA president and CEO

​     “ABA applauds the House of Representatives for passing the Systemic Risk Designation Improvement Act, bipartisan legislation introduced by Rep. Luetkemeyer.
 
     “This bill recognizes that size-only regulation is needlessly burdensome, increases costs and reduces products and services available to bank customers.  The most effective and value-added supervision system is one that is risk-based and individually tailored, taking into account a wide variety of factors relevant to a bank’s size, business model, complexity and other areas.
 
     “We thank Rep. Luetkemeyer for introducing this bill, and look forward to working with lawmakers to move this much-needed legislation forward.”
 
# # #
The American Bankers Association is the voice of the nation’s $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $8 trillion in loans.