In a year-end message to ABA member banks last week, ABA President and CEO Rob Nichols provided a recap of several major accomplishments made on behalf of the banking industry in 2021, including those related to the COVID-19 response, economy recovery, banking policy and financial inclusion.
Nichols highlighted bank efforts to support their customers throughout the pandemic and recovery, particularly through the Small Business Administration’s Paycheck Protection Program. He also highlighted efforts by ABA and bankers to defeat a controversial proposal to create a new bank account-based IRS reporting regime; educate senators from both parties on the policy views of former OCC nominee Saule Omarova; advocate for the withdrawal of several controversial rules, including the 2020 Community Reinvestment Act rule; and draw attention to the unlevel playing field between banks and credit unions, through the relaunch of the Reform Credit Unions campaign.
In addition, Nichols noted that in 2021, ABA continued its efforts to champion the Bank On movement as a way to promote financial inclusion; relaunched its successful #BanksNeverAskThat anti-phishing campaign; provided resources to help banks navigate the intersection of banking and technology; offered a free ABA speakers bureau to help member banks and state associations request ABA staff experts to speak at events; made its Frontline Compliance Training courses available to 1,600 banks; and updated its turnkey financial education resources to help provide critical information on financial management during the pandemic. Read the CEO Update.