Banking Lobby Dusts Off Old Merger Plans

WASHINGTON – The American Bankers Association and America’s Community Bankers, the lobby group for the S&Ls, are seeking to finalize their decade-long courtship and announced yesterday they have tentatively agreed to merge, again. The merger would pit the largest and best funded credit union foe, the ABA, with the most virulent credit union opponent, the ACB. The two lobby groups had tentatively agreed to combine five years ago, but called it off at the last minute. The new group will be retain the American Bankers Association name and be headed by the ABA’s President Ed Yingling. Diane Casey-Landry, current head of the ABA, will be executive vice president and chief operating officer of the group. Both Washington-based trade groups have been around for more than 100 years.