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Oxley's Tactics, Style Catching Up With Him?

Article Excerpt
Complaints of what many industry officials describe as the heavy-handed tactics used by House Financial Services Committee Chairman Michael G. Oxley are coming to a head at the very moment that he may need all the allies he can get.

In his two years as chairman, Rep. Oxley has become known for prodding the financial services companies under his jurisdiction to march in lock step behind his policies -- all his policies -- or face consequences that a growing number of lobbyists call too severe. For example, lobbyists complain of being forced to join letter-writing campaigns on issues unrelated to them, and of punishments such as being cut off from communication or subjected to unfavorable hearings.

One such incident may land him in trouble with the House Ethics Committee. Democrats are reported to be considering filing a complaint against Rep. Oxley after a report that his subordinates pressured a mutual fund trade group to hire a Republican in exchange for easing up on an investigation into mutual fund practices.

"This committee is certainly very aggressive in letting you know when you've displeased them," said an industry lobbyist who, like all sources interviewed for this story, did not want to...

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