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Financial Services Roundtable


Self Description

June 2006: "The mission of The Financial Services Roundtable is to unify the leadership of large integrated financial services companies in pursuit of three primary objectives:

  • To be the premier forum in which leaders of the United States financial services industry determine and influence the most critical public policy issues that shape a vibrant, competitive marketplace and a growing national economy;
  • To promote the interests of member companies in federal legislative, regulatory, and judicial forums; and
  • To effectively communicate the benefits of competitive and integrated financial services to the American public."
http://www.fsround.org/aboutusnew.html

Third-Party Descriptions

January 2012: '“Individuals can have a significant impact in protecting themselves from the kind of fraud and cybercrimes we’re starting to see in the mobile space,” said Paul N. Smocer, the president of Bits, the technology policy division of the Financial Services Roundtable, an industry association of more than 100 financial institutions.'

http://www.nytimes.com/2012/01/26/technology/personaltech/protecting-a-cellphone-against-hackers.html

June 2011: "Three of the largest financial lobbying groups — the Financial Services Roundtable, the Independent Community Bankers of America and the Securities Industry and Financial Markets Association — which spread campaign contributions lavishly through both chambers of Congress, have warned the bill’s main sponsor that they will fight any patent legislation that does not include the special financial exemption."

http://www.nytimes.com/2011/06/15/business/15schumer.html

October 2010: '“We believe that the overwhelming majority of the cases will be that the loan was seriously delinquent and needed to go to foreclosure,” said Paul Leonard, vice president for government affairs of the housing policy council at the Financial Services Roundtable, an advocacy group for the nation’s largest financial institutions.'

http://www.nytimes.com/2010/10/28/business/28victims.html

January 2009: "Citigroup had been part of the Bankruptcy Coalition of the Financial Services Roundtable, an industry group, since it aggressively lobbied for changes to the bankruptcy code in 2005."

http://www.nytimes.com/2009/01/09/business/economy/09loan.html

November 2008: "Senior executives from the banking industry told top Treasury officials at the beginning of the year that Section 382 was bad for businesses because it was preventing mergers, according to Scott E. Talbott, senior vice president for the Financial Services Roundtable, which lobbies for some of the country's largest financial institutions. He declined to identify the executives and said the discussions were not a concerted lobbying effort. Lobbyists for the biotechnology industry also raised concerns about the provision at an April meeting with Solomon, the assistant secretary for tax policy, according to talking points prepared for the session."

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/09/AR2008110902155.html

June 2006: '"If we can protect the data better on the front end, it will diminish the need for law enforcement to chase down the bad guys," says Andrew Barbour, vice president of government affairs for the Financial Services Roundtable, a banking lobbying group.'

http://www.usatoday.com/money/perfi/credit/2006-06-14-credit-freeze-usat_x.htm?csp=34

Relationships

RoleNameTypeLast Updated
Owner of (partial or full, past or present) BITS Organization Nov 18, 2008
Member (past or present) Bank of America Corporation (B of A) Organization Jan 9, 2009
Owner of (partial or full, past or present) Bankruptcy Coalition Organization Jan 9, 2009
Opponent (past or present) DataTreasury Organization Jun 15, 2011
Founder/Co-Founder of Identity Theft Assistance Center (ITAC) Organization Nov 18, 2008
Member (past or present) JPMorgan Chase & Co. Organization Jan 9, 2009
Organization Executive (past or present) Paul N. Smocer Person Jan 28, 2012

Articles and Resources

Date Fairness.com Resource Read it at:
Jan 25, 2012 Build Up Your Phone’s Defenses Against Hackers

QUOTE: Technology experts expect breached, infiltrated or otherwise compromised cellphones to be the scourge of 2012. The smartphone security company Lookout Inc. estimates that more than a million phones worldwide have already been affected.

 New York Times
Jun 14, 2011 Banks Turn to Schumer on Patents

QUOTE: After years of fighting Mr. Ballard at the federal Patent Office, in court and across a negotiating table, the banks went to see one of their best friends in Congress, Senator Charles E. Schumer of New York, who inserted into a patent overhaul bill a provision that appears largely aimed at helping banks rid themselves of the Ballard problem.

 New York Times
Oct 27, 2010 Homeowners Facing Foreclosure Demand Recourse

QUOTE: As lenders have reviewed tens of thousands of mortgages for errors in recent weeks, more and more homeowners are stepping forward to say that they were victims of bank mistakes — and in many cases, demanding legal recourse.

 New York Times
Aug 26, 2009 Subprime Lenders Getting U.S. Subsidies, Report Says

QUOTE: Many of the lenders eligible to receive billions of dollars from the government's massive foreclosure prevention program helped fuel the housing crisis by issuing risky subprime loans...

 Washington Post
Aug 11, 2009 Bankruptcy Judges, Justice Dept. Rip Mortgage Companies

QUOTE: Judges have found that major mortgages servicers regularly mess up basic accounting, improperly credit payments and charge unwarranted fees.
Jan 08, 2009 Citi Reaches Deal With Lawmakers on Home Loans

QUOTE: In a move that would help troubled homeowners, Citigroup agreed to support legislation that would let bankruptcy judges adjust mortgages for at-risk borrowers....Financial industry lobbyists, however, said the plan was flawed and vowed to fight legislation aimed at easing up on homeowners facing foreclosure.

 New York Times
Nov 10, 2008 A Quiet Windfall For U.S. Banks: With Attention on Bailout Debate, Treasury Made Change to Tax Policy

QUOTE: ...Administration officials had just given American banks a windfall of as much as $140 billion. The sweeping change to two decades of tax policy escaped the notice of lawmakers for several days, as they remained consumed with the controversial bailout bill.

 Washington Post
Jun 28, 2006 Is your bank spying on you?

QUOTE: It seems bizarre that anyone should worry that paying off a legitimate debt through legitimate banking channels could land them in trouble with federal law enforcement authorities, but that's the thought crossing many minds as the government strives to catch money launderers and shut down terrorist-funding operations.

 Bankrate.com
Jun 14, 2006 Bill would limit consumers' credit rights

QUOTE: Congress is considering pre-empting laws in 17 states that allow anyone to freeze their own credit and instead restricting the privilege to ID theft victims...But critics say the bill tramples states' rights and undermines the consumer-protection role of state attorney generals.

 USA TODAY