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NEWS RELEASE
Sept. 2, 2008
ABA Media Contact: Margot Mohsberg
(202) 663-5470
E-mail: mmohsber@aba.com
ABA SAYS BANKS WILL CONTINUE TO OPERATE DURING NATURAL DISASTERS
by Edward L. Yingling, president and CEO, American Bankers Association
"In the wake of Hurricane Gustav and with more hurricanes in our near future, the ABA would like to assure the public that their deposits are safe and they will have continued access to their funds.
"Financial institutions and the ABA are working closely with the Department of the Treasury, federal and state financial regulators, and state bankers associations to support the recovery. Customers of financial institutions located in the affected areas can remain confident that the financial sector is working non-stop to ensure the continued security of their financial assets. Deposit insurance is in full force and money in FDIC-insured accounts is protected.
"Banks have a proven record of being prepared for and operating during natural disasters."
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The American Bankers Association brings together banks of all sizes and charters into one association that works to enhance the competitiveness of the nation's banking industry and strengthen America's economy and communities. Its members – the majority of which are banks with less than $125 million in assets – represent over 95 percent of the industry's $13.3 trillion in assets and employ over 2 million men and women.
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