A California National Bank branch employee posts notices that the bank has been taken over, near the bank's ATM machine in suburban Los Angeles October 30, 2009. U.S. authorities seized nine failed banks, including Los Angeles-based California National Bank, that day, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation's banking industry are being crippled by bad loans. REUTERS/Fred Prouser   By Karey Wutkowski
WASHINGTON, Nov 20 (Reuters) – As the biggest U.S. banks clamor to defeat Congressional measures that could break up their firms or slap a big tax on their transactions, another costly proposal is quietly gaining steam.

(more…)