In its entirety, Wall Street firms have already spent more than $100 million in total this year on lobbying related to Dodd-Frank, according to The New York Times, with some success: Many experts claim that the Volcker rule -- a regulation aimed at curbing proprietary trading -- is so watered down it bears little resemblance to the former Federal Reserve Chairman Paul Volcker's original proposal. A handful of Occupy Wall Street protesters recently launched "Occupy the SEC" in direct response to what they perceive as the weakening of the Volcker rule.
And bank lobbyists are fighting back. A notable financial services lobbying firm hatched a plan earlier this week to spend $850,000 on a variety of projects including "opposition research" on the occupy movement in an attempt to undermine it, according to Slate.
But banks may have more to worry about than just the Occupy movement. Cg42, a firm that consults with banks, estimates that big banks will lose $185 billion in deposits over the next year if they don't address consumer concerns. Consumers and lawmakers derided banks earlier this year for proposals to charge for once-free account services such as debit card use. Read More Here | Analysis
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