American Bankers Association

“Authority and composition: the executive committee is accountable to the board of directors. It has authority to act in place of the board between meetings of the board, subject to the limitations in the bylaws or other restrictions established by the board. The members of the executive committee are: the chairman, the chairman-elect, the vice chairman, the treasurer, the president and ceo, the chairman of the association's government relations council, and the vice chairman of the grc. Additionally, a member of the board of directors who represent an institution with a mutual form of charter will be added to the executive committee if no other member of the executive committee represents a regular member that is organized under that form of charter.”

“The american bankers association (aba) is a 501(c)(6) nonprofit business league incorporated in the district of columbia. Its membership is composed of national banks, state-chartered banks, savings banks, savings and loan associations, trust companies, and other banking entities situated within the united states and its dependencies, that have filed an application for federal deposit insurance corporation insurance of accounts ("regular members").”

“Members of the aba annually elect the organization's officers and board of directors, which acts as the association's governing body.”

“In addition to the annual elections, members vote on major corporate actions such as a merger or acquisition and in the event of a possible dissolution.”

“Aba's management, which includes certified public accountants, conducted several internal reviews of the form 990 return prepared by an outside accounting firm. A copy of the form 990 including all required schedules was provided to the audit committee of the aba in electronic form prior to its filing with the irs. Per aba board adopted policy, the audit committee was delegated the responsibility for reviewing the tax return in advance of its filing. The audit committee reports to the association's governing body and is comprised of board of director members. The return will be available to the full board prior to filing.”

“Aba monitors and enforces its conflicts of interest policy by, at least annually, having each officer, member of the board of directors, and all employees attest by signature that they have read, understand, and are in compliance with the policy. On an annual basis, the board is provided a copy of the policy, offered an opportunity to discuss its requirements, and have any questions answered. Staff attends the meetings of the board in order to monitor compliance with the requirements and that the minutes of the meetings fairly represent the discussions of the board.”

“Aba's compensation committee, comprised of board of director members, is responsible for reviewing the compensation of the association's ceo, its other officers and its key employees and makes the final compensation recommendation to the board of directors, which has final approval. The process used by the compensation committee is made in conjunction with an outside independent consulting firm that conducted a comprehensive compensation study for the association. The methodology used included the following: - utilizing salary surveys, including those from mercer, watson wyatt, prm consulting, quatt associates and asae, jobs were benchmarked to comparable positions. - the outside compensation consulting firm reviewed applicable market data and the benchmarked position information and developed a market-based pay structure. - additional factors considered were position requirements, organizational impact, and job complexity. - minutes are kept of the compensation committee's deliberations and decisions regarding compensation arrangements. The process described here was last completed in 2023.”

“Aba does not make its governing documents, conflict of interest policy, or its financial statements available to the public. The organization's form 990 is available for public inspection upon request.”

“Pension related changes due to changes in actuarial assumptions -925,480.”