WASHINGTON - The American Bankers Association launched its campaign Thursday to stop thrifts from getting new commercial bank charters to evade the industry's high deposit insurance rates.

In a letter to Rep. Marge Roukema, chairwoman of a key House Banking subcommittee, the ABA promised to battle applications through the regulatory process and in the courts if necessary.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.