Trade Associations
Here's a look at documents from national and international trade associations
Featured Stories
U.S. Chamber Responds to Foreign Price Control Proposals on Medicare Treatments
WASHINGTON, Dec. 23 [Category: Business] -- The U.S. Chamber of Commerce posted the following news release:
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U.S. Chamber Responds to Foreign Price Control Proposals on Medicare Treatments
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WASHINGTON - Neil Bradley, executive vice president, chief policy officer, and head of strategic advocacy at the U.S. Chamber of Commerce, issued the following statement regarding recent proposals that would impose foreign-country reference pricing on certain Medicare medicines:
"Importing foreign price controls into the U.S. healthcare system would harm patients by limiting access to new, life-saving
... Show Full Article
WASHINGTON, Dec. 23 [Category: Business] -- The U.S. Chamber of Commerce posted the following news release:
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U.S. Chamber Responds to Foreign Price Control Proposals on Medicare Treatments
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WASHINGTON - Neil Bradley, executive vice president, chief policy officer, and head of strategic advocacy at the U.S. Chamber of Commerce, issued the following statement regarding recent proposals that would impose foreign-country reference pricing on certain Medicare medicines:
"Importing foreign price controls into the U.S. healthcare system would harm patients by limiting access to new, life-savingmedicines and reducing their choices. The Chamber has long opposed price controls, which stifle innovation and jeopardize the economic contributions of the life sciences sector. Such policies threaten to undermine the $500 billion life science companies are currently investing in the United States - investments that drive groundbreaking research and create high-paying jobs. Instead, we support voluntary, market-based arrangements that foster collaboration and preserve the innovation ecosystem that has made America a global leader in medical advancements. We urge the Administration to carefully reconsider and reject these harmful proposals and focus on market-driven solutions that protect patients, jobs, and the economy."
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Original text here: https://www.uschamber.com/health-care/u-s-chamber-responds-to-foreign-price-control-proposals-on-medicare-treatments
NYC Health + Hospitals/Queens Earns National Recognition As Center of Excellence In Surgical Safety
NEW YORK, Dec. 23 [Category: Health Care] -- The New York Health and Hospitals posted the following news release:
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NYC Health + Hospitals/Queens Earns National Recognition As Center of Excellence In Surgical Safety
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Designation from the Association of periOperative Registered Nurses recognizes national leadership in perioperative innovation and evidence-based care
Dec 23, 2025
NYC Health + Hospitals/Queens today announced its designation as a Center of Excellence in Surgical Safety: Enhanced Recovery After Surgery (ERAS) by the Association of periOperative Registered Nurses (AORN),
... Show Full Article
NEW YORK, Dec. 23 [Category: Health Care] -- The New York Health and Hospitals posted the following news release:
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NYC Health + Hospitals/Queens Earns National Recognition As Center of Excellence In Surgical Safety
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Designation from the Association of periOperative Registered Nurses recognizes national leadership in perioperative innovation and evidence-based care
Dec 23, 2025
NYC Health + Hospitals/Queens today announced its designation as a Center of Excellence in Surgical Safety: Enhanced Recovery After Surgery (ERAS) by the Association of periOperative Registered Nurses (AORN),the nation's leading authority on perioperative nursing practice. This recognition honors Queens Hospital's commitment to improving patients' physical and psychological well-being before, during, and after surgery through consistent, evidence based Enhanced Recovery practices.
"Achieving AORN's ERAS Center of Excellence designation reflects our team's dedication to continuous improvement and person-centered innovation," said Neil Moore, MBA, MPA, MPH FACHE, Chief Executive Officer, NYC Health + Hospitals/Queens. "This national recognition validates the collaboration, clinical excellence, and operational rigor of our perioperative services all of which translate into safer surgeries and faster recoveries for the communities we serve."
"ERAS is changing how we approach surgical care by standardizing best practices across the perioperative pathway," said Dave Holson, MD, Chief Medical Officer, NYC Health + Hospitals/Queens. "These protocols combined with multidisciplinary collaboration and continuous training deliver safer, more predictable recoveries and better outcomes for the people we serve."
"ERAS represents a major advancement in perioperative care it's not just about shorter stays, it's about safer, more predictable recoveries," said James O'Connor, MD, Chief of Surgery, NYC Health + Hospitals/Queens. "Our surgical teams embraced evidence-based pathways that keep people comfortable, reduce complications, and restore function more quickly."
"Achieving this designation as the very first facility nationwide is a testament to our team's extraordinary collaboration, innovation, and dedication to person-centered care," said Abbi-Gail Baboolal, DNP, MSN, RN, FNP, Chief Nursing Officer, Patient Care Services, NYC Health + Hospitals/Queens. "Our peri-op team has set a national standard for Enhanced Recovery After Surgery protocols, paving the way for better outcomes across the country."
The Center of Excellence designation signifies that NYC Health + Hospitals/Queens has successfully completed AORN's comprehensive ERAS program an evidence based, multidisciplinary initiative focused on reducing postoperative complications, improving pain management, optimizing recovery, and strengthening team communication.
Mary Philip, MS, RN, CNOR, Director of Nursing, Peri op Services, led the perioperative team that developed and implemented the ERAS pathways, bringing together nursing, surgical, anesthesia, rehabilitation, and ancillary services to achieve this milestone.
To earn this national recognition, NYC Health + Hospitals/Queens completed a rigorous assessment and implemented a series of key initiatives, including:
* A comprehensive review and enhancement of ERAS related protocols across preoperative, intraoperative and postoperative care.
* Adoption of advanced technologies and state of the art equipment to support surgical safety and best practices, including the recent addition of robotic surgical capability to expand minimally invasive, precision procedures.
* Advanced education and high-fidelity simulation training for surgical teams, anesthesiology, nursing and perioperative staff to rehearse complex cases, refine communication, and reduce preventable errors.
* A strengthened culture of teamwork and psychological safety in the OR, empowering team members to speak up for safety and consistent, evidence-based care.
NYC Health + Hospitals/Queens provides a comprehensive range of surgical services including general, colorectal, orthopedic, urology, gynecologic, and minimally invasive procedures to serve the diverse communities of Queens. In recent years, the hospital has modernized its surgical program through upgraded operating rooms, investment in state-of-the-art equipment, and the addition of a surgical robot to expand minimally invasive and precision procedures. Robotic-assisted surgery enables smaller incisions, less blood loss, faster recovery, and often shorter hospital stays, supporting ERAS goals and contributing to lower per-patient costs.
The hospital also uses high-fidelity simulation training for surgeons, anesthesiologists, nurses, and perioperative teams to rehearse complex cases, refine communication, and reduce preventable errors. Simulation-based practice improves team performance, accelerates skill acquisition, and increases readiness for uncommon or high-risk scenarios all of which strengthen safety and quality of care.
ERAS protocols, surgical modernization including robotic capabilities, and robust simulation training position Queens Hospital as a leading surgical center in the borough and a hospital of choice for people seeking high-quality, efficient, and innovative surgical care. Queens Hospital will be featured on AORN's Center of Excellence webpage and honored at the AORN Global Surgical Conference & Expo on April 12, 2026, in New Orleans, LA.
For more information about the hospital's surgical services, visit: https://www.nychhc.org/locations/queens.
Media Contact: Cleon Edwards, NYC Health + Hospitals/Queens, (646) 772-5725 ;
#231-25
About NYC Health + Hospitals/Queens
A member of NYC Health and Hospitals, NYC Health + Hospitals/Queens is a major health care provider in the borough of Queens. Its foremost mission is to provide quality, comprehensive care to all members of the public regardless of their ability to pay. In 2025, Queens Hospital marked its 90th anniversary of serving the communities of central and southeastern Queens, having first opened its doors as Queens General Hospital in 1935. Encompassing 360,000 square feet, it comprises 253 licensed beds, spacious ambulatory care suites featuring both primary and specialty services, and cutting-edge equipment. It also houses four Centers of Excellence: Cancer Care, Diabetes Management, Women's Health, and Behavioral Health. The hospital has recently added a fully expanded Emergency Room, a Breast Imaging Center of Excellence accredited by the American College of Radiology, and a Total Hip and Knee Replacement Center, with plans underway to build the health system's first Dialysis Center to train patients to perform their own at-home dialysis. To learn more about NYC Health + Hospitals/Queens, visit www.nychealthandhospitals.org/queens.
About NYC Health + Hospitals
NYC Health + Hospitals is the largest municipal health care system in the nation serving more than a million New Yorkers annually in more than 70 patient care locations across the city's five boroughs. A robust network of outpatient, neighborhood-based primary and specialty care centers anchors care coordination with the system's trauma centers, nursing homes, post-acute care centers, home care agency, and MetroPlusHealthall supported by 11 essential hospitals. Its diverse workforce of more than 46,000 employees is uniquely focused on empowering New Yorkers, without exception, to live the healthiest life possible. For more information, visit www.nychealthandhospitals.org and stay connected on Facebook, Twitter, Instagram and LinkedIn.
About AORN
Founded in 1949, AORN supports more than 200,000 perioperative nurses with evidence-based research, education, standards, and resources to enable optimal outcomes and promote safe surgery for every person, every time. For more information, visit www.aorn.org.
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Original text here: https://www.nychealthandhospitals.org/pressrelease/nyc-health-hospitals-queens-earns-national-recognition-as-center-of-excellence-in-surgical-safety/
Military Officers Association of America: New USPHS Commissioned Corps Leader Seeks Fitter Force, Greater Awareness
WASHINGTON, Dec. 23 -- The Military Officers Association of America issued the following news:
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New USPHS Commissioned Corps Leader Seeks Fitter Force, Greater Awareness
By Tony Lombardo
The new leader of the U.S. Public Health Service Commissioned Corps launched a new fitness initiative this month aimed at improving the health and readiness of the force while promising to elevate the branch's role and recognition among the uniformed services.
"As public health service officers and servicemembers, it is our job to lead by example. If we're asking the American public to focus on their
... Show Full Article
WASHINGTON, Dec. 23 -- The Military Officers Association of America issued the following news:
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New USPHS Commissioned Corps Leader Seeks Fitter Force, Greater Awareness
By Tony Lombardo
The new leader of the U.S. Public Health Service Commissioned Corps launched a new fitness initiative this month aimed at improving the health and readiness of the force while promising to elevate the branch's role and recognition among the uniformed services.
"As public health service officers and servicemembers, it is our job to lead by example. If we're asking the American public to focus on theirhealth, our servicemen and women should be leading the way," said Adm. Brian Christine during his Dec. 12 swearing-in ceremony in Washington, D.C., where he became the Department of Health and Human Services' 18th assistant secretary for health and the chief of the USPHS Commissioned Corps.
The all-officer corps has 5,500 servicemembers with jobs that include doctors, dentists, nurses, pharmacists, clinical and rehabilitation therapists, dietitians, engineers, environmental health officers, scientists, veterinarians, and more. They serve at home, along our borders, and overseas, often alongside armed services personnel.
Christine, a urologist and surgeon, earned his doctor of medicine degree from Emory University and completed his residency in urology at the University of Alabama at Birmingham.
He announced the new PHS Mission Fit program on Dec. 12. It will include:
* Clear expectations for physical fitness and consistent training. Beginning April 1, officers will complete two physical fitness tests (PFTs) annually.
* Holistic support and resources across physical, mental, nutritional, and sleep health.
* Weekly structured exercise opportunities.
* Motivational challenges to build camaraderie and engagement.
Christine has already promised to share his own PFT score and encourages all members of the Corps to try and beat him.
"I'll be traveling to different duty stations," Christine said. "When I do, we're going to work out together. We're going to do PT together."
During his swearing-in, Christine addressed officers in the room, noting he'd heard feedback that USPHS officers feel like they serve in an "invisible corps" - a branch whose role and service is unknown to the general public. He pledged that he would make sure they are the "visible corps."
"At every opportunity, be seen in your uniform," he told officers. "When someone says 'Thank you for your service,' use that time to explain who you are, what you are, what Public Health Service officers do to make your country healthy."
Christine said he will also seek to better unite the Commissioned Corps with other services.
"We're going to be interfacing with the other branches of service more frequently and more intensely," he said. "We are moving to bring the U.S. Public Health Service Commission Corps into better alignment with the other uniformed services, while always maintaining our unique identity and our unique garrison."
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About the Author
Tony Lombardo
As MOAA's Director of Content & Engagement, Tony Lombardo manages the content team tasked with producing The MOAA Newsletter, editing Military Officer magazine, operating MOAA's social media accounts, and supporting all communications efforts across the association.
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Original text here: https://www.moaa.org/content/publications-and-media/news-articles/2025-news-articles/recommended-reads/new-public-health-service-leader-seeks-fitter-force,-greater-awareness/
[Category: National Defense]
Aviation Soldiers Begin Training on New Stalker Drone
ARLINGTON, Virginia, Dec. 23 [Category: National Defense] -- The Association of the U.S. Army posted the following news:
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Aviation Soldiers Begin Training on New Stalker Drone
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The VXE30 Stalker uncrewed aircraft system has been fielded for training and is slated to be used for advanced training courses, according to an Army news release.
While the uncrewed aircraft system is in use by some of the Army's operational units, it's now also being employed to train soldiers in advanced individual training courses at Fort Huachuca, Arizona, and in the Unmanned Advanced Lethality Course at
... Show Full Article
ARLINGTON, Virginia, Dec. 23 [Category: National Defense] -- The Association of the U.S. Army posted the following news:
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Aviation Soldiers Begin Training on New Stalker Drone
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The VXE30 Stalker uncrewed aircraft system has been fielded for training and is slated to be used for advanced training courses, according to an Army news release.
While the uncrewed aircraft system is in use by some of the Army's operational units, it's now also being employed to train soldiers in advanced individual training courses at Fort Huachuca, Arizona, and in the Unmanned Advanced Lethality Course atthe Army Aviation Center of Excellence at Fort Rucker, Alabama.
The system incorporates observations from the modern battlefield, such as Ukraine, including reduced noise and visual signature, vertical takeoff capability and cost-saving munitions technologyunderscoring the Army's push to integrate cutting-edge systems into training at Fort Rucker and Fort Huachuca, the release says.
Maj. Wolf Amacker, UAS and Tactics Branch chief of the Aviation Center of Excellence's Training and Doctrine Directorate, said in the release that the use of the uncrewed aircraft system represented a milestone in training the Army's layered reconnaissance strategy.
"This is the first time in years that we will be utilizing [this] size UAS in support of an Army course at Fort Rucker, since before the Shadow was really employed," Amacker said in the release, referring to the RQ-7B Shadow, which is a Group 3 UAS, a category that includes systems that weigh between 56 and 320 pounds at takeoff, operate up to 18,000 feet above mean sea level and fly at speeds under 250 knots.
The Stalker aircraft is built on a modular open systems approach and can adapt to new sensors, payloads and technologies to support changing operational needs.
Amacker noted that Fort Rucker's 1st Aviation Brigade identified the Stalker during the recent UAS summit and moved quickly to acquire the system for training, ensuring students gain hands-on experience with the latest reconnaissance technology.
"This system can take off and land vertically like a quadcopter, then transition to forward flight where it goes deadly silent," Maj. Rachel Martin, director of the Air Cavalry Leaders Course and Unmanned Advanced Lethality Course, said in the release. "Its reduced visual and acoustic signature makes striking a target at 300 feet very likely, something that wasn't possible with louder systems, like the Shadow."
The system integrates into the Army's Common Lethality Integration Kit, allowing soldiers to select warheads at the user level and employ both newly designed payloads and existing munitions, such as 81 mm mortars.
Martin noted the dramatic cost difference compared to traditional systems. "Instead of a Hellfire missile costing $100,000 to $150,000 per round, this solution costs about $800," she said. "That disparity is significant, and it reflects lessons from the Ukrainian fight, where cheaper solutions are proving decisive."
Amacker added that the Army is exploring ways to print training rounds in-house, further expanding opportunities for instruction while reducing reliance on traditional procurement systems.
Training with the Stalker is scheduled to begin in December, so instructors could incorporate the system into courses and prepare soldiers to employ it in tactical missions at the battalion and brigade levels.
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Original text here: https://www.ausa.org/news/aviation-soldiers-begin-training-new-stalker-drone
ATA Truck Tonnage Index Rose 0.2% in November
ARLINGTON, Virginia, Dec. 23 [Category: Transportation] -- The American Trucking Associations posted the following news release:
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ATA Truck Tonnage Index Rose 0.2% in November
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Dec 23, 2025
Increase was Minor Compared with Large Decreases in September and October
Washington - Trucking activity in the United States increased slightly in November, but volumes remained at low levels. Specifically, truck freight tonnage rose 0.2% after falling 1.9% in October and 0.8% in September, according to the American Trucking Associations' advanced seasonally adjusted For-Hire Truck Tonnage Index."November's
... Show Full Article
ARLINGTON, Virginia, Dec. 23 [Category: Transportation] -- The American Trucking Associations posted the following news release:
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ATA Truck Tonnage Index Rose 0.2% in November
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Dec 23, 2025
Increase was Minor Compared with Large Decreases in September and October
Washington - Trucking activity in the United States increased slightly in November, but volumes remained at low levels. Specifically, truck freight tonnage rose 0.2% after falling 1.9% in October and 0.8% in September, according to the American Trucking Associations' advanced seasonally adjusted For-Hire Truck Tonnage Index."November'stonnage reading continues to point to a constrained freight market despite the small sequential increase," said ATA Chief Economist Bob Costello. "The index was also down from a year earlier, the second straight year-over-year decline. In addition to challenging volumes, more capacity appears to be leaving the industry after a prolonged freight downturn and increased government enforcement measures targeting unqualified drivers and noncompliant carriers."
In November, the ATA advanced seasonally adjusted For-Hire Truck Tonnage Index equaled 112.4, up from 112.2 in October. The index, which is based on 2015 as 100, contracted 0.3% from the same month last year after decreasing 1.5% in October. Year-to-date, compared with the same period in 2024, tonnage was unchanged.
October's SA decrease was revised up slightly from what was first reported in our November 18 press release.
The not seasonally adjusted index, which calculates raw changes in tonnage hauled, equaled 107.3 in November, 10.2% below October's reading of 119.5.
Trucking serves as a barometer of the U.S. economy, representing 72.7% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 11.27 billion tons of freight in 2024. Motor carriers collected $906 billion, or 76.9% of total revenue earned by all transport modes.
Both indices are dominated by contract freight, as opposed to traditional spot market freight. The tonnage index is calculated on surveys from its membership and has been doing so since the 1970s. This is a preliminary figure and subject to change in the final report issued around the 5th day of each month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.
* 2024 estimates include forecasts.
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Original text here: https://www.trucking.org/news-insights/ata-truck-tonnage-index-rose-02-november
AFA's 10 Key Milestones in 2025
ARLINGTON, Virginia, Dec. 23 [Category: National Defense] -- The Air and Space Forces Association posted the following news release:
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AFA's 10 Key Milestones in 2025
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What a year! Thanks to supporters like you, AFA had a real impact on 2025. Here are 10 ways your Air & Space Force Association made a difference for our Air Force and Space Force family over the course of the past 12 months.
1\. An Old Tradition, a Brand New Headquarters
AFA welcomed more than 120 distinguished guestsincluding Chief of Space Operations Gen. B. Chance Saltzman and then-Chief of Staff of the Air Force
... Show Full Article
ARLINGTON, Virginia, Dec. 23 [Category: National Defense] -- The Air and Space Forces Association posted the following news release:
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AFA's 10 Key Milestones in 2025
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What a year! Thanks to supporters like you, AFA had a real impact on 2025. Here are 10 ways your Air & Space Force Association made a difference for our Air Force and Space Force family over the course of the past 12 months.
1\. An Old Tradition, a Brand New Headquarters
AFA welcomed more than 120 distinguished guestsincluding Chief of Space Operations Gen. B. Chance Saltzman and then-Chief of Staff of the Air ForceGen. David Allvinfor the grand opening of our new HQ, celebrated in conjunction with AFA's annual Doolittle Raiders Memorial Toast. Hundreds more tuned in online, and around the world, with many chapters holding their own Raiders Memorial Toast. Here's to the Raiders, AFA, and the future!
2\. Turning Heads, Changing Policy
With the fate of the Air Force's E-7 early warning and battle management aircraft suddenly in doubt, AFA and the Mitchell Institute rallied 16 four-star generalsincluding six former Air Force Chiefs of Staffto co-sign an AFA letter warning against the move. Led by AFA's President & CEO Lt. Gen. Burt Field, USAF (Ret.), and Dean of AFA's Mitchell Institute Lt. Gen. David Deptula, USAF (Ret.), the collective action voiced by these experienced leaders had an impact: Within weeks, the House of Representatives voted to support funding for the E-7 program, legislation that has since become law in the fiscal 2026 National Defense Authorization Act. The E-7 Wedgetail continues!
3\. Fighting for Families
AFA rallied in support of Airmen, Guardians, federal civilians, and Families as the government shutdown ground on and some families faced severe financial hardships. In less than a week, AFA members contributed more than $17,000 and AFA pledged thousands more to help fund AFA Chapters' efforts around the nation, supporting food banks and other quality-of-life projects at Tinker AFB, Shaw AFB, Buckley SFB, Dobbins ARB, Bolling AFB, Duluth ANGB, and many more.
AFA's United Forces & Families program has more to give. Chapters can apply for $1,000 grants here.
4\. Building Coalitions and Influence
The cosigners of AFA's letter included the Association of the United States Army (AUSA), the Marine Corps Association (MCA), the National Guard Association of the United States (NGAUS), the Reserve Organization of America (ROA), and Enlisted Association of the National Guard of the United States (EANGUS). The six associationsrepresenting a combined 1.8 million membershighlighted the impact of the month-long funding lapse across the defense community in the letter to the House and Senate, and during an AFA-hosted press event a few days before the government reopened.
5\. "Building Better Leaders"
AFA's Doolittle Leadership Center launched a new podcast, rapidly connecting with top leaders past and present. Among the first dozen episodes launched in 2025, are interviews with:
* Gen. Anthony Cotton, then-Commander of U.S. Strategic Command
* Gen. Kevin Schneider, Commander of Pacific Air Forces
* Gen. John "Jay" Raymond, USSF (Ret.), the first Chief of Space Operations
* Chief Master Sgt. Tina Timmerman, Command Sr. Enlisted Leader U.S. Space Forces - Space
Watch and listen to all 12 episodes here, or on your favorite platform:
6\. Connecting with Leadership
Air & Space Forces Magazine scored the first on-the-record interview with new Air Force Secretary Troy Meink, who laid out his history and strategic vision for the U.S. Air Force and U.S. Space Force. Interview opportunities like this, along with opportunities to cover invitation-only events, like Secretary of Defense Pete Hegseth's addresses to America's generals and to the defense industry, underscore that AFA's news reporters and products are trusted at the highest levels of government and industry.
7\. Notching STEM Records
AFA's CyberPatriot, the world's largest youth cyber education program, has now helped prepare 250,000 students for futures in science, technology, engineering and math. Among them, more than 100,000 CyberPatriot alumni have pursued degrees and/or careers in cybersecurity or computer science, helping to reduce our nation's deficit in cyber defenders by 15%.
Meanwhile, AFA's StellarXplorers space education program is growing as well, registering more teams for its national space design competition in 2025 than any of its 11 seasons before!
8\. Going the Distance
A record 270 riders joined the 350-mile bicycle ride from the Wright Brothers Memorial in Kitty Hawk, N.C., to the Air Force Memorial in Arlington, Va., this year. Together, they raised $73,000, well more than this year's goal, for AFA's Wounded Airmen & Guardians Program.
9\. Complex Wargaming
Bringing warfighters together from Pacific Air Forces (PACAF), Global Strike Command (AFGSC), Air Mobility Command (AMC), U.S. Air Forces in Europe (USAFE), and Air Force Futures, allied participants from the Royal Australian Air Force, Japan Self-Defense Forces, and also members of the global defense industry, AFA's Mitchell Institute for Aerospace Studies used the wargame to assess how differing future force structures measured up to the demands of peer competition in the Indo-Pacific.
10\. Farewell and Welcome
Outgoing AFA Chair of the Board Bernie Skoch completed his tenure as AFA's 51st Chair of the Board by handing the gavel to his successor, Kathleen Ferguson, on October 1. Under Skoch's stewardship, AFA membership grew to 130,000 and prominent leaders including former Air Force Secretary Frank Kendall and former Chief Information Security Officer of the U.S. Greg Touhill to the Board.
Ferguson's deep roots as a career civil servant, military spouse, and longtime AFA leader, give her an ideal profile to guide AFA through a pivotal erastrengthening the Association's advocacy, supporting its families, amplifying its voice, and building a vibrant future....and get ready for so much more in 2026!
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Original text here: https://www.afa.org/afas-10-key-milestones-in-2025/
ABA Statement on Treasury Guidance on Penny Phaseout
WASHINGTON, Dec. 23 [Category: Financial Services] -- The American Bankers Association posted the following news release:
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ABA Statement on Treasury Guidance on Penny Phaseout
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"We appreciate today's Treasury Department guidance on handling pennies in the banking system. With the administration's decision to end penny production, a clear path forward is essential to ensuring a smooth transition for American consumers, businesses and the banks that serve them. As we noted in our recent letter to Treasury, maintaining the ability to accept and process pennies along with consistent rounding
... Show Full Article
WASHINGTON, Dec. 23 [Category: Financial Services] -- The American Bankers Association posted the following news release:
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ABA Statement on Treasury Guidance on Penny Phaseout
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"We appreciate today's Treasury Department guidance on handling pennies in the banking system. With the administration's decision to end penny production, a clear path forward is essential to ensuring a smooth transition for American consumers, businesses and the banks that serve them. As we noted in our recent letter to Treasury, maintaining the ability to accept and process pennies along with consistent roundingrules and strong public education is critical for both customer service and operational continuity. We also appreciate that the guidance notes the Federal Reserve is committed to recirculating existing coins, and that can be demonstrated by re-opening all coin distribution locations to all penny transactions.
"The penny is a small coin with a big role in everyday transactions and has been a part of America's currency for more than 230 years. As we move toward this next chapter, we look forward to reviewing today's guidance and working closely with Treasury to implement any necessary steps that help banks continue meeting the needs of their customers, clients and communities."
About the American Bankers Association
The American Bankers Association is the voice of the nation's $25.1 trillion banking industry, which is composed of small, regional and large banks that together employ over 2 million people, safeguard $19.7 trillion in deposits and extend $13.2 trillion in loans.
In Depth
* Penny Phaseout
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Original text here: https://www.aba.com/about-us/press-room/press-releases/treasury-guidance-on-penny-phaseout-statement
