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For Immediate Release
December 1, 2016
ABA Media Contact: Jeff Sigmund
(202) 663-5439
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.”
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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.