Banks Prep Defense for Anti-Wall Street Campaigns

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Banks Prep Defense for Anti-Wall Street Campaigns

Banks Prep Defense for Anti-Wall Street Campaigns

WSJ-

Top executives from the biggest U.S. banks, concerned about anti-Wall Street rhetoric already bubbling up on the 2016 campaign trail, are working to push back against the prevailing narrative that banks are bad.

Senior executives from seven of the biggest U.S. banks gathered or dialed into a March 31 meeting on the 51st floor of the Bank of America Tower in New York to discuss the upcoming election cycle and how the firms can counteract what they view as false and damaging statements about large banks, according to emails reviewed by The Wall Street Journal and people familiar with the meeting.

The effort underscores the degree to which Wall Street remains a political punching bag and a source of anger among lawmakers and the public nearly seven years after the financial crisis. Already, several presidential candidates have lobbed criticism at Wall Street and directly attacked big banks and Sen. Elizabeth Warren (D., Mass) continues to exert pressure, warning about big banks’ efforts to roll back financial regulations.

 [WALL STREET JOURNAL]

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