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American Bankers Association (ABA)

Self Description

March 2008: "The American Bankers Association brings together banks of all sizes and charters into one association. ABA works to enhance the competitiveness of the nation's banking industry and strengthen America's economy and communities. Its members — the majority of which are banks with less than $125 million in assets — represent over 95 percent of the industry's $12.7 trillion in assets and employ over 2 million men and women.

To join ABA, read about Membership Opportunities or call 1-800-BANKERS.

The mission of the American Bankers Association is to serve its members by enhancing the role of financial services institutions as the preeminent providers of financial services. This mission is accomplished through federal legislative and regulatory activities, legal action, communication and consumer education, research, and products and services that promote, educate, train, inform and support members."

Third-Party Descriptions

July 2013: "Opponents, including the Securities Industry and Financial Markets Association, the American Bankers Association, the National Association of Realtors and some big investors have mounted a concerted opposition campaign on multiple levels, including flying lobbyists to California city halls and pressuring Fannie Mae, Freddie Mac and the Federal Housing Administration to use their control of the mortgage industry to ban the practice."

May 2010: '“Retailers who benefit greatly from the system will pay almost nothing for the costs of maintaining and improving it,” said the American Bankers Association.'

January 2010: 'Doug Johnson, a vice president at the American Bankers Association, allows that when extending credit, "certainly it's the bank's obligation to get it right." But he says getting free credit protection onto bankers' to-do list would take a competitive spark: "The cost for online banking has been driven to zero. It could be the marketplace will drive the price of that kind of protection to zero as well."'

March 2010: 'At the same time, banking lobbyists and other business-financed groups threw their weight against the consumer agency proposal — and they complained about Ms. Warren as well. (Wayne Abernathy, a lobbyist for the American Bankers Association, declined to comment for this article but recently asked if the TARP oversight panel had become “the new Warren commission.”)'

June 2009: '"The single biggest indicator of a person's ability to repay is whether they have a job, and economists say unemployment could hit 10%," said Peter Garuccio, spokesman for the American Bankers Assn. "Issuers say their losses track closely with unemployment and they have to minimize exposure."'

April 2009: '“There is concern among the banks that the stress test has led to uncertainty, the opposite of what is intended, and they would be diluting their shareholders based on a scenario that the regulators say themselves are unlikely to happen,” said Edward L. Yingling, the head of the American Bankers Association.'

March 2009: 'But John Hall, a spokesperson for the American Bankers Association, insists that banks have “Pentagon-level security.” His advice: “Monitor your accounts. Protect your passwords and your computer.'

May 2009: 'Nessa Feddis, senior counsel at the American Bankers Association (ABA), questions the report’s methodology— banks failed the test if investigators waited more than 10 minutes for the information—and defends the lack of data online. Banks are afraid of leaving old, inaccurate information on their site if terms change, she says. But without details on fees, consumers can’t make educated choices. “Banks are not complying with the law,” says Ed Mierzwinski, consumer program director with the U.S. Public Interest Research Group. “People need more information so they can shop around for the best deal.'

May 2009: 'Unfortunately, paying inside with your debit card isn’t much of a solution either. Many banks charge their customers between 50 cents and $1 for the privilege of using their debit card in any PINbased transaction. The American Bankers Association estimates only 13 percent of consumers pay these fees, but critics say the practice is on the rise and consumers are often unaware of these charges.'

December 2008: 'Wayne A. Abernathy of the American Bankers Association added: "Unlawful Internet gambling is practically undefined in the act, rendering prospects for success in controlling it unfavorable from the start." Banks and credit card companies use codes to identify transactions, but they can be confusing. "For example, while it might be legal to use a credit card at the casino, it might be illegal to use it for the same wager over the Internet," he testified.'

March 2008: "Banks are failing to provide consumers with information about fees on savings and checking accounts even though federal rules require such disclosures....The American Bankers Association, an industry group, said it could not comment on the GAO report because it had not seen it. But the group pointed to a survey it released last summer, which found that 20 percent of the 1,000 consumers surveyed had paid an overdraft fee in the past 12 months. Of those, about one-third said they paid the fee once..."


RoleNameTypeLast Updated
Organization Head/Leader (past or present) Edward L. Yingling Person Jun 19, 2009

Articles and Resources

27 Articles and Resources. Go to:  [Next 7]

Date Resource Read it at:
Jul 29, 2013 A City Invokes Seizure Laws to Save Homes

QUOTE: Scarcely touched by the nation’s housing recovery and tired of waiting for federal help, Richmond is about to become the first city in the nation to try eminent domain as a way to stop foreclosures. The results will be closely watched by both Wall Street banks, which have vigorously opposed the use of eminent domain to buy mortgages and reduce homeowner debt, and a host of cities across the country that are considering emulating Richmond.

New York Times
May 14, 2010 Debit Fee Cut Is a Rare Loss for Big Banks

QUOTE: Retailers have begged Congress for years, in vain, to limit the fees they must pay to banks when customers swipe credit or debit cards...That long record of futility ended in a landslide Thursday night. Sixty-four senators, including 17 Republicans, agreed to impose price controls on debit transactions over the furious objections of the beleaguered banking industry.

New York Times
Mar 24, 2010 Behind Consumer Agency Idea, a Tireless Advocate

QUOTE: Ms. Warren has two roles here: officially, as head of Congressional oversight for the Troubled Asset Relief Program, and unofficially, as chief conceiver of and booster for a new consumer financial protection agency. Fusing those projects and her academic work, she has become the most prominent consumer advocate in years.

New York Times
Jan 01, 2010 Consumer Confidential

QUOTE: Do you know when you're being hustled by bankers, mortgage brokers, and investment peddlers? Check out our tip sheet on financial pros' everyday deceptions—and how to protect yourself against them

AARP Bulletin
Sep 21, 2009 Democrats Target Bank Overdraft Charges: Bailed-Out Firms Lean More Heavily on Fees

QUOTE: A backlash is brewing on Capitol Hill against banks that charge large fees for overdrafts without asking or telling customers...

Washington Post
Aug 18, 2009 In Appraisal Shift, Lenders Gain Power and Critics (Back to Business)

QUOTE: The Home Valuation Code of Conduct is setting off a bitter battle. Mortgage brokers, lenders, real estate agents, regulators and appraisers are all arguing over whether an effort to fix one problem has created many new ones.

New York Times
Aug 05, 2009 Bank Balances Shift With Rule Changes: After One Tweak Improved the Books, Another Could Erase Gains and More

QUOTE: A controversial change in accounting rules earlier this year has allowed banks to claim billions of dollars in additional earnings simply by tweaking their bookkeeping, greatly enhancing the appearance that the industry is returning to health.

Washington Post
Jun 23, 2009 Credit-Card Companies: Who Qualifies Now?

QUOTE: Jittery banks, eager to reduce potential risk, appear to be targeting many borrowers with low-balance or inactive accounts. About 11% of customers who saw their limits cut had no "risk triggers" during that period and generally had very high credit scores. Risk triggers include late payments, excessive cash advances, check bouncing, collecting unemployment, or having a mortgage in an area where property values are plummeting.

May 22, 2009 10 Things Gas Stations Won't Tell You

QUOTE: 1. “Good luck finding the best deal"....2. “I hate it when gas prices go up”....3. “My gas isn’t better for your car; it’s just more expensive”.... 5. “. . . and don’t even consider applying for our gas card.”

Smart Money
May 12, 2009 gs10 Things Your Bank Won't Tell You

QUOTE: 2. “Our fees will only go up"....3. “We change our interest rates all the time"....4. “College campuses are a gold mine for us”....8. “Your money might be better off elsewhere.”

Smart Money
Apr 28, 2009 Feeling Secure, Some Banks Want to Be Left Alone

QUOTE: industry executives are taking issue with major elements of the president’s bank plan....But bankers are increasingly eager to extricate themselves from the government’s grasp, and worry that Washington will impose new restrictions on their businesses if the government’s already considerable role in the industry grows.

New York Times
Mar 03, 2009 10 Things Credit Card Companies Won't Say

QUOTE: 1. “We’re just waiting for you to screw up”....2. “When it comes to identity theft, we’re part of the problem”....4. “Our ‘freebie’ rewards are anything but”....8. “We close early on payment-due dates.”

Smart Money
Dec 01, 2008 Prohibition vs. Regulation Debated As U.S. Bettors Use Foreign Sites

QUOTE: Even as bettors around the world gamble millions of dollars online, confusion reigns about the legal status of those bets and the companies that handle them. According to the Justice Department, Neteller was "a colossal criminal enterprise masquerading as a legitimate business," violating a 47-year-old law aimed at organized-crime bookies. Prosecutors contend the law applies to any and all betting on the Internet, as well as the electronic money transfers enabling those bets.

Washington Post
Jul 18, 2008 10 Things Your Bank Won't Tell You

QUOTE: Our branches are there to sell you, not serve you."....College campuses are a gold mine for us....In debt? The courts won't help....Your online account info isn't necessarily accurate.

Smart Money
Mar 02, 2008 Banking Fees Are Rising And Often Undisclosed: Undercover Teams Can't Pry Data From Branches

QUOTE: Banks are failing to provide consumers with information about fees on savings and checking accounts even though federal rules require such disclosures, according to a government report...

Washington Post
May 24, 2007 Fed Plans to Revise Credit Card Rules

QUOTE: Credit card companies would have to disclose interest rates and fees in clearer, easier-to-understand language under proposed new consumer-protection rules that could take effect by year-end.

Washington Post
Mar 21, 2007 To Fight Identity Theft, a Call for Banks to Disclose All Incidents

QUOTE: The hearing will revolve around two bills proposed by Senator Dianne Feinstein, Democrat of California. One would require companies to reveal when they have suffered a data breach — a measure modeled on a California law that has led to the disclosure of several prominent thefts of consumer information. The other bill would limit the use of Social Security numbers and establish criminal penalties for their misuse.

New York Times
Jan 01, 2007 When the Victim Stands Accused: A retiree and his bank are duped by a phony-check scheme.

QUOTE: wire transfer scheme[s] [are] a widespread, growing hoax in which victims receive authentic-looking checks or money orders and are instructed to deposit them in their personal bank accounts and then quickly wire the money overseas. The checks, in fact, are fakes.

Jul 11, 2006 What Gas Stations Won't Tell You

QUOTE: It's hard to know if you're getting all the gas you paid for at the pump. But in some places there's a very good chance you're not.

Smart Money
Jun 28, 2006 Is your bank spying on you?

QUOTE: It seems bizarre that anyone should worry that paying off a legitimate debt through legitimate banking channels could land them in trouble with federal law enforcement authorities, but that's the thought crossing many minds as the government strives to catch money launderers and shut down terrorist-funding operations.

27 Articles and Resources. Go to:  [Next 7]