Summers to talk to bankers’ at summit this week

One of the Obama administration’s chief economic spokesman, National Economic Council Chairman Lawrence Summers, will speak Wednesday morning to a summit of bankers in Washington.

Summers will address the American Bankers Association’s annual “Government Relations Summit” this week, where over 750 bankers will assemble to discuss policy issues.

The banking industry has been under careful scrutiny in Congress, the White House, and the public in general after having received billions of dollars from the government in assistance.

The administration has also signaled a tightening grip over the companies by summoning the CEOs of major banks to the White House last week, and acting aggressively to curb bonuses at AIG after the payments stirred a public outcry.

Joining Summers at the summit will be several other key political officials, including House Financial Services Committee Chairman Barney Frank (D-Mass.), Sen. Jon Kyl (R-Ariz.), and FDIC Chairwoman Sheila Bair.