To the Editor:
American Banker's piece on the American Bankers Association's hiring of Wilmer, Cutler & Pickering and Michael Helfer (Feb. 27) was inaccurate and misleading. I want to set the record straight.
The ABA engaged Wilmer Cutler to prepare technical memorandums for analyzing proposed Glass-Steagall legislation, which it has done. We did not ask Wilmer Cutler to prepare any advocacy paper, nor to lobby on our behalf, nor to have discussions with any regulators on our behalf, and it has not done so.
Mr. Helfer, as your article noted, is a recognized expert in the law relating to bank securities activities. He and Wilmer Cutler have represented the ABA in litigation since 1990. Our request that he and Wilmer Cutler do this Glass-Steagall analysis had no relation to his recent marriage (to FDIC Chairman Ricki Tigert). Donald Ogilvie Executive vice president American Bankers Association Washington