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PRESS RELEASE

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

Roundtable Concerned with Supreme Court Decision

Washington, D.C.—June 29, 2009—The Financial Services Roundtable is concerned with today’s ruling of Cuomo vs. Clearing House Association. The Court ruled 5-4 in favor of the state. This decision will create a patchwork of 50 state laws which destroys the efficiencies of the national market.

“We are worried about the effect that this ruling could have on the markets,” said Rich Whiting, Executive Director and General Counsel for the Financial Services Roundtable. “Cuomo vs. Clearing House Association hinders the ability of financial services firms from conducting business in the United States. Even worse, it will cause confusion for consumers, especially those who move from state to state.”

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 $85.2 trillion in managed assets, $980 billion in revenue, and 2.3 million jobs.

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