The New York Times today follows an earlier article by Politico about Howard Milstein-controlled Emigrant Savings Bank of New York's effort to get Congress to lower its capital requirements. The Times article describes Emigrant as "a small and financially sound institution." That supports Emigrant's argument that it not be subject to higher capital requirements, but whether Emigrant's size qualifies as small or large is a judgment call. The bank's own Web site reports that "As of December 31, 2009, Emigrant Bank and its affiliated Regional Banks* have approximately $15.4 billion in assets and $1.2 billion in total equity capital." The Times may count $15.4 billion in assets as small, but it strikes me as large, or at least medium-sized.
The Times article doesn't mention Politico's reporting that among the lobbyists hired in support of Emigrant's efforts are the former chairman of the Senate Banking Committee, Alfonse D'Amato, and a former aide to the chairman of the House Financial Services Committee, Barney Frank, Robert Raben.