With a vote expected this week on S. 2155 — the bipartisan financial regulatory reform package championed by Senate Banking Committee Chairman Mike Crapo (R-Idaho) and four Democrats on the Senate Banking Committee — the American Bankers Association has developed two new resources to help bankers understand and speak for the legislation.
The first resource highlights key provisions of the bill — many of which have been long advocated by ABA as part of the association’s Blueprint for Growth — and includes testimonials by bankers, policymakers and others about how the bill will help banks serve their customers and communities. The second offers a “reality check” that responds with facts to misleading claims about S. 2155 that have been circulating in the press.
Bankers can use the reality check document in conversations with members of Congress and their staff or in response to false claims they see about the bill. For example, the document responds to inaccurate claims that the bill only helps the nation’s largest banks, that large banks will no longer face stress tests and that the bill “rolls back” Dodd-Frank, among others.