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no. i have spoken with several people who are very high up in the banking business, and the outside counsel for one of the US's largest banks. i expect them to fight it, at least the way it was drafted about a month ago.

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I don't want to overeach here, but I can cautiously second this. I know a partner in charge of all the work done by a large law firm for a medium-sized US bank. He's very well connected and his reaction to the idea of this legislation was that banks would flip. Who knows how relevant that is or whether they can do anything, but if they are partly involved in determining the scope of the regulation, this may be a good sign.

I am going to see if I can get him to look at the wording of the bill.

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