ABA president expresses banks’ anger in letter to US Treasury

Victoria Pennington
31 Oct 2008

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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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