Compliance

09:36 AM
Connect Directly
RSS
E-Mail
50%
50%

Obama Seeking to Mend Bridges with Financial Services Industry

Today, Pres. Barack Obama will meet with the leaders of the nation's largest financial institutions in an effort to gain their support for his bank rescue plan.

Citi's Vikram Pandit, J.P. Morgan Chase's Jamie Dimon and Goldman Sachs' Lloyd Blankfein will headline the group of 15 financial services chiefs set to convene on Washington.

According to a report from Bloomberg.com, White House advisers said the meeting will not be a finger-pointing session addressing the problems at individual institutions. Rather, it will focus on "stabilizing financial markets, boosting lending to businesses and consumers, reducing foreclosures and imposing regulatory overhaul."

The Bloomberg article suggests the meeting is part of the President's effort to engage the financial services community after weeks of sharply criticizing it. "We're reliant upon them to help rebuild our economy," said senior adviser Valerie Jarrett. "It would be very unnatural if we didn't engage them and have a direct opportunity to pick their brains and look to the future."

Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology Oct. 14, 2014
Bank Systems & Technology's new Must Reads is a compendium of our best recent coverage of customer analytics. Learn what big data means for banks, meet Wells Fargo CDO Charles Thomas, find out how to connect with your Gen Y customers, and more.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.