American Bankers Association (ABA)

The American Bankers Association (ABA) is an organization representing banking interests at the national level. Created in 1875 to urge for the repeal of taxes on capital, deposits, and checks, the ABA is a powerful lobbying force in Washington on financial issues. American Bankers Association interests have changed with technological advances over the years. In the 19th century ABA efforts focused on banker education and advocacy. One of the early problems was bank robbers. In the 1890s an ABA program paying rewards for the conviction of bank robbers significantly reduced this problem and led to the death of notorious bank criminals, including Butch Cassidy and the Sundance Kid in Bolivia.
As telegraph technology became available, in the early 1900s the ABA created a cipher telegraphic code for use in banking communications. With today’s Internet technology the American Bankers Association supported legislation creating the first Web-based bank in 1995. With the easing of Great Depression-era banking restrictions, the ABA is advocating new legislation expanding banking activities in the areas of insurance and securities. In 1997 Forbes rated the American Bankers Association as the 12th most influential lobbying group in the country.