ASA Statement on the Future of Deposit Insurance

WASHINGTON – Ahead of a Financial Services Committee hearing on the future of deposit insurance, the American Securities Association (ASA) urged policymakers to promote a fair and level playing field so all financial services companies can compete and expand opportunity for the American people.

"Any reforms to deposit insurance should promote fairness, ensure a level playing field, and limit the subsidy that certain banks enjoy, so all financial services companies can compete and expand opportunity for America’s working families, savers, and retirees," said ASA President and CEO Chris Iacovella. "As the advocacy debate advances, we look forward to partnering with Chairman Hill, Congress, and the Trump administration on this issue."

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The American Securities Association (ASA) represents the retail and institutional capital markets interests of regional financial services firms who provide Main Street businesses with access to capital and advise hardworking Americans how to create and preserve wealth. ASA’s mission is to promote trust and confidence among investors, facilitate capital formation, and support efficient and competitively balanced capital markets. This mission advances financial independence, stimulates job creation, and increases prosperity. The ASA has a geographically diverse membership of almost one hundred members that spans the Heartland, Southwest, Southeast, Atlantic, and Pacific Northwest regions of the United States.