How Wall Street Defanged Dodd-Frank Battalions of regulatory lawyers burrowed deep in the federal bureaucracy to foil reform. April 30. 2013 I The NIlion. Outnumbered By Bank Lobbyists 20 to 1. The new Dodd-Frank finance reform law has been under siege by Wall Street lobbyists intent on weakening, delaying, and dismantling it. Lobbyists for consumer protection groups are few. • sume protection groups defending Dodd-Frank sent 20 lobbyists to Capitol Hill. AFSCME: 10 US PIRG: 6 Center for Responsible Lending: 2 consumer Federation of America: 2 Americans for Financial Reform: 0 U.S. Chamber of Commer; 183 American Bankers Associatily. 90 JP Morgan Chase: 60 Goldman Sachs: 51 Wells Fargo: 22 • • • %VI V . • • • Ig o V . it . • • IA AI That same year. t p 5 ice industry groups trying to destroy Dodd- Frank sent 406 lobbyists to Capitol Hill. Saito consernetoeg Gagne racy Lootionotz Alava tog 714 £.spew twat ?l. Nalco Aosodech avower Lao Wanda The mood was triumphant on the morning of July 21, 2010. when Barack Obama, not quite two years into his presidency, strode to a podium inside the Ronald Reagan Building, a few blocks 1 EFTA01144466