Brown-Vitter Rearranges Financial-Reform Battlefield
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April 29 (Bloomberg) -- A year ago, the big U.S. banks werefocused on repealing, or at least eliminating large parts of,the Dodd-Frank financial-reform law.
They poured money into the campaign of the Republicanpresidential nominee, Mitt Romney, and gave generously toopponents of the pro-reform Senate candidates Sherrod Brown andElizabeth Warren. At the same time, lobbyists devised creativetactics to delay implementation of Dodd-Frank -- filinglawsuits, mobilizing international pressure, hiring formerregulators, writing opinion articles and comment letters, andcommissioning faux research pieces. It was a tour de force byone of the great lobbies at the top of its game.