Regulators implementing Dodd-Frank met with big banks nearly 1,300 times in the past two years, but held only 242 meetings with reform-oriented organizations, according to a report from the Sunlight Foundation.
The numbers “call attention to the intensity of resources that big banks are devoting to Dodd-Frank rulemaking," Lee Drutman of the Sunlight Foundation tells American Banker’s Rob Blackwell.
Though it does not necessarily prove influence, “to the extent that regulators are relying on bank representatives to understand the technical side of these rules, they are likely to see the world from the banks' perspective. This is bound to have at least some impact on how the final rules turn out," Drutman says.
Goldman Sachs had the highest number meetings: 181, mostly with the CFTC. JPMorgan came in second with 175, mostly with Fed and Treasury officials.
For the full piece see "JPMorgan Meetings Dominate Fed's Dodd-Frank Agenda" (may require subscription).