American Bankers Association / BankPac

Identity and role

The American Bankers Association is the principal trade association for U.S. banks. BankPac is its federal political committee, FEC committee C00004275.

Banks and non-bank lenders in PPP

PPP put banks, nonbank lenders, fintech platforms, and lender-service providers inside the same emergency program. ABA's members included incumbent banks, community-bank partners, and chartered institutions whose position differed from the non-bank marketplaces and software firms asking Congress and Treasury for direct access to relief distribution.

Cross River and Celtic were banks that worked with fintechs; ABA's published position argued that government-backed lending should run through supervised banks and SBA-approved lenders.

Political giving and lobbying

BankPac's reports to the FEC list three contributions to Friends of Jim Clyburn, Clyburn's campaign committee, while he chaired the House Select Subcommittee on the Coronavirus Crisis: $2,500 on June 9, 2021, $2,500 on February 3, 2022 and $5,000 on September 22, 2022. Clyburn's committee reported the $5,000 as received on November 1, 2022. The contributions continued a longer pattern: Clyburn's committee reported 44 contributions from BankPac between 2003 and 2026, from $1,000 to $5,000 each, in every two-year cycle from 2004 on.

ABA also filed federal lobbying reports.

ABA's policy-analysis paper "Lessons from PPP Fraud for Potential Expansion of the SBA 7(a) Program" argues against widening nonbank access to SBA 7(a) lending.

In April 2023 SBA finalized two rules, one lifting its moratorium on new nondepository Small Business Lending Companies in the 7(a) program and one changing its affiliation and lending criteria. In a May 17, 2023 statement for the record to the House Small Business Committee, ABA said it had "serious concerns" about both, cited the Select Subcommittee's December 2022 fintech report, and urged Congress "to consider potential legislative and Appropriations responses to the final rules." The statement refers to ABA's comment letter on the proposals, filed December 27, 2022.

Where it stands now

ABA remains the main U.S. bank trade association and BankPac remains an active federal PAC. Related profiles: Cross River, Celtic, BlueVine, Kabbage, and the congressional oversight staff.

Documents on this site

Original source documents and archived copies

• FEC, American Bankers Association BankPac committee overview C00004275

Related profiles

• Rob Nichols — president and CEO of the American Bankers Association during PPP.

Sources

• FEC, American Bankers Association BankPac committee C00004275: FEC — American Bankers Association BankPac committee C00004275 (original: fec.gov · stored capture)
• FEC, BankPac (C00004275) monthly report, Schedule B: $5,000 to Friends of Jim Clyburn, September 22, 2022 (FEC image 202210179537533028); earlier lines June 9, 2021 (image 202107169451677136) and February 3, 2022 (image 202203159493947574)
• FEC, Friends of Jim Clyburn (C00255562) 2022 post-general report, amended, Schedule A: $5,000 from BankPac received November 1, 2022 (FEC image 202306209582310352)
• Statement for the Record on Behalf of the American Bankers Association Before the House Small Business Committee, May 17, 2023 (hearing "Taking on More Risk: Examining the SBA's Changes to the 7(a) Lending Program Part II") (link now dead)
• ABA policy analysis, "Lessons from PPP Fraud for Potential Expansion of the SBA 7(a) Program": Lessons from PPP Fraud for Expansion of the SBA 7(a) Program (original: aba.com · stored capture)
• OpenSecrets, American Bankers Association PAC profile: 2022 5a43458d5b18e085 (original: opensecrets.org · stored capture)
• Senate LDA search portal for ABA reports: LDA.gov: Search Registrations & Quarterly Activity Reports (original: lda.senate.gov · stored capture)
• FEC administrative-fine memo involving Clyburn late-2022 48-hour notices: Administrative Fine Matter AF 4561, Friends of Jim Clyburn — Federal Election Commission (original: fec.gov · stored capture)