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PRESS RELEASE

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

Financial Services Roundtable Continues to Oppose Cram Down Legislation

January 27, 2009—Washington, D.C.— In a joint trade association letter submitted to Chairman Conyers and Ranking Republican Smith, the Financial Services Roundtable continued its strong opposition to broad cram down legislation.

Cram down injects risk into the housing market, increasing uncertainty in an already unstable housing market.

“The better solution is for a homeowner to contact the lender directly or one of the many organizations that help homeowners, such as the HOPE NOW Alliance,” said Steve Bartlett, President and CEO of the Financial Services Roundtable.

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, $978 billion in revenue, and 2.5 million jobs.

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