“U.S. senators are planning to mark the 10th anniversary of Wall
Street’s meltdown this year with a gift to the nation’s banks: a bill
that would unravel regulations put in place after the crisis.
The proposed rollback of some key post-crisis rules – which could
advance in the coming weeks – is one of the few examples of
bipartisanship in Washington since President Donald Trump’s election.
Yet the bill is driving a wedge between Democrats and threatening to
magnify the party’s divisions as it fights to win back Congress this
year.
On one side are moderate Democrats such as Sens. Heidi Heitkamp and
Jon Tester from Republican-leaning states who support the legislation
because they say it will provide relief to small and regional banks and
boost rural economies.
On the other are progressives like Sens. Elizabeth Warren, Sherrod
Brown and their activist allies, who argue that the bill will put
consumers at risk. They’re working to undercut the party’s centrists
before the vote, with several of the moderates – as well as Brown –
facing tough reelection campaigns this year…”
Continue reading at Politico.com
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