Obama to Meet With Banking CEOs Monday

Dec. 9, 2009— -- President Obama will meet with major banking executives Monday at the White House, an industry source told ABC News today.

CEOs from Bank of America, Citigroup, JP Morgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley, State Street, American Express, PNC, Capital One, US Bancorp and the Bank of New York Mellon will be represented at the meeting, the source said.

While the industry has yet to be given an agenda for the meeting, the topics of discussion are expected to include increased lending, especially lending to small businesses, as well as financial regulatory overhaul and executive compensation.

"The industry looks forward to meeting with the president to discuss the lending landscape as well as regulatory reform and how best to achieve our shared goals of strengthening small businesses and the economy," Scott Talbott, chief lobbyist for the industry's Financial Services Roundtable, told ABC News. "The industry also looks forward to discussing with the president how best to modernize our regulatory framework."

Financial regulatory overhaul is a key issue, with the House poised to take up an initiative proposed by Barney Frank. House Republican leadership met with industry lobbyists on Capitol Hill Tuesday, a source familiar with the meeting told ABC News.

The meeting was "a rally" of sorts, the source said, with GOP leadership asking lobbyists to voice their opposition to Frank's bill, which recently passed out of the Financial Services Committee that he chairs and includes the creation of a new regulatory agency.

"We need your help," Republican leaders told the lobbyists, asking them to send lenders to Congress outlining their opposition to Frank's legislation.