Incoming ABA CEO Rob Nichols discussed his plans to fight for regulatory relief, unite banks of all sizes and engage millennials in a recent interview with The Hill.
Nichols stressed the critical role that banks play in the economy and called for banks of all sizes to work together on the many challenges facing the industry. “Our biggest enemies are not banks of different sizes,” he said. “It’s nonbank lending, it’s the technology convergence. We need to lock arms and stand together.”
He also spoke of the need to rehabilitate the image of banks among younger generations, many of whom are wary of the financial industry. “They don’t know if they need a bank,” Nichols said. “But that’s 84 million potential clients and customers we can’t give up on.”