The American Bankers Association made a pitch Tuesday to the Senate Banking Committee on its wish list for regulatory reform legislation, highlighting its opposition to a separate consumer agency for banks, efforts to gut federal preemption of state standards and taxing large institutions in advance for resolution costs.
Edward Yingling, the trade group's president, said the ABA is concerned about preserving the dual banking system and argued for the Federal Deposit Insurance Corp. and the Federal Reserve Board "to maintain connection with bank regulation in order for them to effectively carry out their other core functions."
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