Chief CU Lobbying Antagonist Hired At White Shoe Law Firm
WASHINGTON – Ed Yingling, a long-time credit union adversary as head of the American Bankers Association, is going to work as a banking lobbyist for the venerable New York law firm Covington & Burlington in its Washington office.
Yingling, first a lobbyist for then CEO of the ABA, will become a partner in the White Shoe law firm, advising financial institutions on regulatory, transactional, enforcement, and legislative matters, with particular emphasis on implementation of the Dodd-Frank Act.
As head of the ABA, Yingling was most often the chief opponent of credit union legislation, including HR 1151, the 1998 CU Membership Access Act, and more recent efforts at regulatory relief and member business lending, all the while advocating for repeal of the credit union tax exemption.
Succeeding Yingling as head of the ABA is Frank Keating, the former governor of Oklahoma who has headed the American Council of Life Insurers for the past eight years.
The 61-year-old has bank lobbying running through his blood, as his father, John Yingling, was chief of staff for the Senate Banking Committee, then a well-known lobbyist for the forerunner of Citibank.