Financial writers clinic: Getting rid of "mitigate"

Words with Latin roots, such as “mitigate,” drain life out of your writing. Let’s spruce up a sentence by deleting “mitigate.”

Here’s a sentence from New York Times‘ reporter Gretchen Morgenson’s “Credit Cards and Reluctant Regulators“:

Alliance is not the only company working to mitigate the effects of new credit card restrictions.

I’d rewrite it as

Alliance is not the only company trying to work around new credit card restrictions.

What do you think? Better or worse? Clearer or more muddled?