WASHINGTON — The American Bankers Association today announced the board approval of its merger with America's Community Bankers on its Web site, www.aba.com.
ABA reported that the move was approved unanimously, taking one step closer to creating a bigger, stronger force in Washington, D.C. for credit union trades to reckon with. ACB will hold a member vote in October and, if approved, the merger should be completed in November.
The new organization would retain the ABA name, but rename its Community Banker Council America's Community Bankers Council. Ed Yingling will remain president/CEO of the combined ABA, while ACB President/CEO Diane Casey-Landry will become executive vice president/chief operating officer.
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CUNA President/CEO Dan Mica, who has advocated a merger of CUNA and NAFCU, acknowledged that the combination of the two groups would make it an even stronger advocate for banks–and against credit unions. NAFCU President/CEO Fred Becker has said it is just one less banking trade association to contend with but easing up on the ABA and ACB's anti-credit union work is unlikely.
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