Academic journal article ABA Banking Journal

A Stronger ABA and Progress on Image

Academic journal article ABA Banking Journal

A Stronger ABA and Progress on Image

Article excerpt


This has been a year of change and renewal at ABA as Frank Keating became our president and CEO, and we fought to help our members deal with extraordinary challenges.

Transitions are not easy, but this one was. Keating took over with authority and decisiveness. His leadership, political savvy, media and executive skills--and the sheer energy that he brings to ABA--won the support of our growing membership.

This transition has shaped our future for years to come. It has strengthened us as an organization and an industry.

Keating has reached out to all of our stakeholders and established himself as the new face and the new voice of ABA. He embraces a different approach that meets the needs of a different time. He put our advocacy on offense in a public and bipartisan way.

When bankers were asked to "stand down" in the debate over the Federal Reserve's debit-card interchange proposal, we stood our ground. Working with our alliance of state bankers associations, we persuaded a majority of the Senate to stop and study interchange before it was adopted. While we could not win the "supermajority" we needed, our aggressive campaign made a difference. Media stories reported Keating's efforts to urge the Federal Reserve to include more of a bank's costs in setting a new cap on interchange fees. Network transaction fees were added and a special provision was made to help cover fraud costs.

On this issue and others, Keating emphasized the critical importance of industry unity. …

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