Steve Bartlett, President and CEO of the Financial Services Roundtable, addressed the National Press Club about financial services legislation and regulation in a speech entitled “A New Day for Financial Services.”
In the speech, Bartlett discussed steps taken by the financial services to promote financial stability and economic recovery. These efforts include:
- Troubled Assets Relief Program: As of July 15, 2010, three fourths of TARP funds to the financial services industry had been repaid.
- Mortgage Modification: As of June 2010, 3.2 million borrowers had their mortgages modified, with 77 percent having their payments reduced.
- Small Business Lending: The top five banks have pledged to increase lending to small businesses by $12 billion in 2010.
Video of the speech is available on YouTube: