Banks ramp up efforts to influence regulatory changes

02/16/2010 | Los Angeles Times (tiered subscription model)

Most financial-industry participants and observers agree that changes are needed to prevent a repeat of the crisis that continues to plague the industry. However, banks are trying to ensure that the overhaul of the financial-regulatory system is an improvement and not just more red tape. "This is a watershed moment," said Scott Talbott, senior vice president of government affairs at The Financial Services Roundtable. "The industry will be changed forever after this year."

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