Straight Talk – A Big Deal

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One of the more interesting meetings on Capitol Hill took place four years ago this month in Rep. Barney Frank's office. Robert Kaiser, a long time reporter for the Washington Post, describes the meeting in his book, "Act of Congress," which details the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act. In a chapter called "Making Sausage," Kaiser describes a meeting in which Frank and Camden Fine, president/CEO of the Independent Community Bankers of America, reached an agreement whereby Fine's group would remain neutral on creation of a new consumer protection agency in exchange for Frank's effort to move to an asset-based formula on deposit insurance premiums.

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