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PRESS RELEASE

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

Industry Continues to Oppose Durbin Cram-Down Mortgage Bill

January 8, 2009—Washington, D.C.— The Financial Services Roundtable remains opposed to the Durbin bill to cram-down mortgages in bankruptcy.

“The compromise changes announced today are a first step to improve the bill, but the Durbin bill is still far too broad and presents a serious risk to the mortgage markets,” said Scott Talbott, Senior Vice President of Government Affairs for the Roundtable. “The industry will still oppose the Durbin bill.”

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 $66.1 trillion in managed assets, $1.1 trillion in revenue, and 2.5 million jobs.

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