Nov 05 2008 11 mins 1
On Nov. 4, America elected Democrat Barack Obama as its next President, and the Democratic Party also cushioned its majorities in both the House and Senate.
So, what does a Democratic federal government portend for the U.S. banking industry?
In an exclusive interview, Stephen Verdier, Senior Vice President and Director of the ICBA's Congressional Relations Group, discusses:
- What the election means short- and long-term to the banking industry;
- How regulatory agencies may be changed by the new Administration;
- New regulations that may be coming down the pike.
Verdier rejoined the Independent Community Bankers of America on March 1, 2004 as Senior Vice President and Director of the Congressional Relations Group. He was also with ICBA from 1983 until June of 1994 as Senior Legislative Counsel.
He received his college degree in political science from American University and graduated from Catholic University Law School. Both schools are in Washington, D.C. During his college years, he worked on Capitol Hill and was a law clerk with the Antitrust Division of the Department of Justice during law school. Before rejoining ICBA, Verdier was with America's Community Bankers.
Between 1976 and 1983, he was on the House Banking Committee staff and helped draft major banking legislation enacted in 1978, 1980 and 1982. He also worked on legislation dealing with the World Bank, the International Monetary Fund (IMF), and the Export-Import Bank.
