group's lobbying power on financial reform has been undermined by its proposed merger with the American Bankers Association.

Within days of the merger announcement, ACB president Paul A. Schosberg wrote House Speaker J. Dennis Hastert, Senate Majority Leader Trent Lott, and other key lawmakers to insist his group will continue to fight for its priorities. Our public policy objectives, reflective of our members' needs and goals, are firmly in place, he wrote late last month. We will betray neither our principles nor our allies.

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.