Financial industry to fight Obama's proposed bank fee

01/19/2010 | Hill, The

The financial industry sees the Obama administration's proposed fee as an unjust punishment on financial institutions that have repaid the money they received through the Troubled Asset Relief Program. Industry insiders also say that the charge will hinder lending and hurt consumers. "We'll focus on the negative economic effects the tax will have on the economy," said Scott Talbott, senior vice president of government affairs at The Financial Services Roundtable.

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Hill, The

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