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Thursday, November 10, 2016

ABA Congratulates Trump, Urges Pursuit of Shared Goals

In a letter to President-Elect Trump yesterday, ABA Chairman Dorothy Savarese and ABA President and CEO Rob Nichols congratulated Trump on his election and urged his administration to pursue bipartisan policies that promote economic growth, a thriving housing market and safe, convenient banking innovations. “A bank’s goal, like yours, is the success of the people it serves -- America’s families, homeowners, small businesses and larger companies that together create thriving communities,” ABA wrote. “Therefore, the policies for which we advocate are those that help customers, clients and communities succeed.”

Savarese and Nichols specifically encouraged the next administration to pursue a tailored approach to regulation; to continue supporting small businesses growth by strengthening the Small Business Administration’s loan programs; and to consider possible solutions to alleviate the student debt burden that currently affects two-thirds of all college graduates. They also outlined a number of initiatives that would help more Americans to access mortgages and affordable housing, as well as others aimed at meeting the challenges of new technologies and providing a safe, secure banking system for all.

“We believe these are areas on which all policymakers can agree, and present an opportunity to prove that Washington is capable of both bipartisan spirit and action.”

In a separate press statement on the elections, Nichols stressed ABA’s eagerness to work with the new administration and the 115th Congress “to achieve our shared goals for a vibrant and growing economy.” “We look forward to working with members of both parties on policy solutions that will allow banks to help accelerate economic growth, create jobs, better serve their local communities and help their customers and clients succeed.”

Read the letter.

Read the Press Statement.