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ABA Statement on yesterday’s Senate Banking Committee Markup Print E-mail
Friday, 22 May 2015

Frank Keating, The American Bankers Association (ABA) president and CEO, said: “We applaud the Senate Banking Committee for passing the Financial Regulatory Reform Act of 2015, which would provide much-needed regulatory relief to banks of all sizes.  This bill is a significant step toward removing many of the statutory and regulatory barriers that constrain banks’ ability to serve their customers and meet the needs of their local communities. 
 


“While regulation is essential for our industry, the volume of new rules has made everyday tasks like originating a mortgage or preparing for an examination take on an unnecessary level of complexity. This bill would be a positive step toward creating a sound regulatory environment that benefits consumers and helps the country promote economic growth.
 


“With today’s vote now in the rearview mirror, we stand ready to work with Chairman Shelby, Ranking Member Brown and members of the committee to get this legislation before the full Senate and enacted as soon as possible.  We firmly believe that common ground exists for financial reform in this Congress. We need to seize it and move ahead together for the sake of our customers and the broader economy.”

The ABA is the voice of the nation’s $15 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $11 trillion in deposits and extend more than $8 trillion in loans. Learn more at aba.com.

(Source - ABA News Release)

 

 

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