The banking industry is under the gun from politicians to accept "compromise" financial reform legislation. Recent history should provide bankers with lessons on the importance of not compromising their principles.

Banks fought for decades to gain a right other industries take for granted-the right to open branch offices. Politicians, bowing to pressure from smaller banks seeking to limit competition, refused to enact reforms.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.