Press Releases

FOR IMMEDIATE RELEASE
Elise Brooks, (202) 589-2427

Roundtable Special Advisor to Testify at Jobs and Economy Hearing

 

Washington, D.C.—March 3, 2011—Greg Wilson, Special Advisor for the Financial Service Roundtable, will testify today before the Subcommittee on Commerce, Manufacturing, and Trade, of the Committee on Energy and Commerce on “Made in America: Innovation in Job Creation and Economic Growth.”

Wilson will ask Congress to carefully consider some of the negative repercussions that the Dodd-Frank Act could have on innovation, the economy, and jobs.  In embargoed testimony, Wilson references that if the sum total of over 250 new rules produces a 5 or 10 percent negative impact on lending, there would be roughly $250 billion to $500 billion less lending available for our economy.

Wilson will also present some immediate action items that the Administration, the Congress, and the industry can take to ensure a more balanced and effective regulatory outcome

The Financial Services Roundtable represents 100 of the largest integrated financial services companies providing banking, insurance, and investment products and services to the American consumer.  Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO.

Roundtable member companies provide fuel for America's economic engine, accounting directly for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.