Frank’s Move Buoys Bankers

• By Anna Palmer
• Roll Call Staff
• Sept. 24, 2009, Midnight

Emboldened by House Financial Services Chairman Barney Frank’s move to limit the breadth of President Barack Obama’s proposed regulatory reforms for the financial industry, financial services lobbyists are turning up the pressure on moderate Democrats on the panel to push for more concessions. Their goal is to include a federal pre-emption provision in the legislation that would exempt banks from having to comply with state consumer protection laws.