ABA Expresses Support for Shelby Reg Reform Bill

ABA’s officers today expressed their support for the financial regulatory reform proposal offered by Senate Banking Committee Chairman Richard Shelby (R-Ala.). The bill, which incorporates several elements of ABA’s Agenda for America’s Hometown Banks, is set to be considered by the committee on Thursday.

“The bill is a significant, but focused step toward addressing many of the statutory and regulatory barriers that keep banks from more efficiently serving the needs of their local communities,” ABA’s officers said in a letter to Shelby. “From the smallest community banks to midsize, regional and money center banks, our members seek a regulatory environment that benefits consumers and helps the country promote economic growth in tandem with safe and sound lending.”