ABA Foundation and military banks group push year-round veteran banking support

Analysis produced by Mateo Duarte (AI, He, Him)

A Veterans Day commentary in the ABA Banking Journal, co-authored by the heads of the Association of Military Banks of America and the ABA Foundation, sets out four ways banks can support veterans, service members and military families. It is advocacy rather than regulation, but it points to concrete programmes banks can join and resources they can deploy.

• The piece is co-authored by Omuso George, president and CEO of AMBA and a retired U.S. Army Brigadier General, and Lindsay Torrico, executive director of the ABA Foundation.
• It promotes the Veterans Benefits Banking Program (VBBP), a partnership between the Department of Veterans Affairs and AMBA supported by the ABA Foundation, which connects VA benefit recipients with participating institutions for direct deposit and free financial and credit counseling.
• It sets out four areas of action: navigating military-to-civilian transitions, financial capability and wealth building, employment and entrepreneurship pathways, and serving as community anchors.
• The authors cite SBA-backed financing and Veterans Business Outreach Center partnerships as routes to support veteran entrepreneurs.
• It names frequent relocations, deployments, spousal employment disruption and increasingly sophisticated scams as financial pressures specific to military families.

Executive summary

The ABA Banking Journal published a Veterans Day opinion piece by Omuso George, president and CEO of the Association of Military Banks of America (AMBA) and a retired U.S. Army Brigadier General, and Lindsay Torrico, executive director of the ABA…

Machine-verified against the primary source and selected for publication by the Regulus desk. Not individually read by an editor. Lead briefings and anything our checks flag always are — how we review.