In May 2015, Nichols was named president and CEO of the American Bankers Association, the nation’s largest trade group representing banks of all sizes. During his tenure as CEO, several bills and regulatory proposals supported by ABA have been enacted, including the Tax Cuts and Jobs Act of 2017 and the first major banking reform bill since the Dodd-Frank Act, the bipartisan Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155). In 2019, Nichols was a vocal advocate for the SAFE Banking Act, which would allow banks to serve the cannabis industry. With ABA’s support, the legislation was passed by the House with a bipartisan vote in September 2019. Since Nichols’ arrival at ABA, the association’s push for “tailored regulation” and other refinements to the post-financial crisis regulatory framework has seen traction at regulatory agencies such as the Federal Reserve, FDIC, OCC and CFPB.