ABA president expresses banks’ anger in letter to US Treasury
In a CEO Alert, the ABA president expressed the banking industry’s anger over the ambiguous provisions in the Capital Purchase Program
WASHINGTON, DC – In a CEO Alert on October 30, president of the American Banking Association Ed Yingling and chief operating officer Diane Casey-Landry expressed the banking industry's anger over Treasury and the regulators' failure to adequately clarify the provisions and purpose of the Capital Purchase Program (CPP).
In a letter to Treasury secretary Henry Paulson, Yingling indicated that some banks, which had never issued a subprime loan, were being pressurised into participating in the CPP
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