WASHINGTON UPDATE CUTTING THROUGH THE NOISE — AND THE REGULATORY RED TAPE We are halfway through 2025, and while there have been several significant developments — from the escalation of geopolitical tensions abroad to economic uncertainty at home — there’s a positive message I want to send to bankers: Our agenda is moving forward. With the help of tireless advocates here in Washington and at the state associations, ABA is continuing our steadfast work with the administration and like-minded lawmakers in Congress to advance the policy priorities that are most important for our members, as outlined in our “ABA Blueprint for Growth” and available by scanning the QR code — and we have the tools, the resources and the people in place to make it happen. ROB NICHOLS President and CEO, American Bankers Association https://www.aba.com/advocacy/ what-we-stand-for/blueprint-for-growth In early June, Federal Reserve Gov. Miki Bowman was sworn in as the new vice chair for supervision — which we view as an incredibly positive step for our industry. Her first speech shortly after her confirmation gave a strong signal that we could soon see a return to tailored regulation that will help banks unlock economic growth and better serve their customers, clients and communities while still managing risks. Gov. Bowman is one of many policymakers now occupying key positions in Congress and at the banking agencies who understand just how vital it is that we have a strong, thriving banking sector in this country. We’ve also had a number of wins in the past few months alone that again signal a return to a more rational regulatory framework. Congress came together to pass a bipartisan bill rejecting the CFPB’s misguided overdraft rule — which would have taken a vital credit option off the table for thousands of Americans who rely on it to manage their finances responsibly — and it was signed by President Trump earlier this spring. This action not only scraps the overdraft rule, but it also 10
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