More mid-size and regional banks are increasing their lobbying activity in the wake of Dodd-Frank.
The colossal law contains a number of provisions these âmiddle childrenâ feel should be limited to their bigger brothers.Â Chief among these provisions are the Volcker Rule and a âliving-willâ requirement that commands big banks to detail âresolution plansâ in the event of collapse.
The banks’ mission won’t be to wheedle their way out of Dodd-Frank, but rather to encourage regulators to tailor the rules with them in mind.Â In other words, theyâd like to be treated as a separate species from Wall Street.
To give an idea of how seriously theyâre taking this, SunTrust has so far upped its lobbying expenditures fifteen-fold for 2012.Â PNC has gone from spending $570,000 in 2010, to $1.53 million in 2011.
More on this as it unfolds.