NEWS RELEASE
Committee on Energy and Commerce Democrats
Congressman John D. Dingell, Ranking Member

DINGELL COMMENT ON AFP BANK TYING SURVEY

Washington, D.C. – Rep. John D. Dingell (D-Mich), Ranking Member of the House Committee on Energy and Commerce, had the following comment on the release by the Association for Financial Professionals of the results of its survey on bank tying of credit and other services, which documented that most large companies are being subjected to increasing pressure from commercial banks to award other financial business or suffer denied credit or a negative change in terms of credit:

"I am not surprised at these results. Hopefully GAO’s upcoming report will be able to shed further light on this growing problem. I find it incomprehensible that the Federal bank regulators cannot find illegal activity hidden in plain sight."

- 30 -