ABA President and CEO Rob Nichols applauded the passage of the bill. He said
This bill recognizes that size-only regulation is needlessly burdensome, increases costs and reduces products and services available to bank customers. The most effective and value-added supervision system is one that is risk-based and individually tailored, taking into account a wide variety of factors relevant to a bank’s size, business model, complexity and other areas.
Read Nichols' statement.