Banks Sway Bills to Aid Consumers

Discussion in 'Wall St. News' started by WaveStrider, Apr 22, 2009.


    "WASHINGTON — They may be held in low esteem around the nation, but the country’s largest banks still wield considerable influence in Washington.

    The banks have made it difficult for Congressional Democrats and the White House to give stretched homeowners a stronger hand in negotiating lower monthly payments on mortgages and to prevent credit card companies from imposing higher fees and interest rates.

    Having won some early skirmishes by teaming with Republican allies, the banks now appear to have the upper hand and may wind up killing — or at least substantially diluting — both pro-consumer measures. "

    Maybe they need more money...