Lobbyist Urges Community Banks to Back Regulatory Reform, Not Wall Street

bloomberg.com — A lobbyist for community banks privately urged his industry not to oppose the U.S. regulatory overhaul, warning that smaller lenders are being used by Wall Street to derail the legislation.

In an e-mail sent in late June to state bank trade association executives, Camden Fine, head of the Independent Community Bankers of America, said his group wouldn’t publicly take a position on the bill. Still, he said small bankers would lose important exclusions they fought for and “are turning the gun on themselves” if they work to defeat the legislation ahead of a final Senate vote this month.

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