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Reuters7:23 a.m. CDT, September 20, 2012
WASHINGTON, Sept 20 (Reuters) - Former Republican
presidential hopeful Tim Pawlenty will become the head of the
Financial Services Roundtable, a U.S. bank lobbying group that
represents JP Morgan Chase & Co and Wells Fargo & Co
, among other financial companies, the group said on
Thursday.Pawlenty, who dropped out of the White House race early and
quickly backed Mitt Romney for the nomination, takes over as
president and chief executive office of the industry group on
Nov. 1, it said in a statement.
As the industry's top lobbyist, he will play a major role in
the industry's efforts to make new Dodd-Frank rules, which
Congress passed in 2010 in response to the 2007-2009 financial
crisis, more favorable for Wall Street as regulators implement
the law.
The measure - a response to the crisis fueled by risky
financial swaps trading at some firms that required
multibillion-dollar tax payer bailouts - has yet to be fully
enacted.
