/Senate Democrats Divided Over Banking Regulatory Reform Bill

Senate Democrats Divided Over Banking Regulatory Reform Bill


OAN Newsroom
UPDATED 10:13 AM PT — Tues. March 13, 2018

The Democrat party continues to split, with a banking reform bill now dividing senators.

So-called ‘moderate’ Democrats are supporting the bipartisan legislation that would ease some of the tough Dodd-Frank banking regulations, giving some breathing room for local banks.

However, those on the far-left, including Senator Elizabeth Warren, are opposed to bill.

Sen. Elizabeth Warren, D-Mass., a key member of the Banking Committee, expresses her opposition to a move in the Senate to pass legislation that would roll back some of the safeguards Congress put into place after a financial crisis rocked the nation’s economy ten years ago, during a news conference at the Capitol in Washington, Tuesday, March 6, 2018. Warren, who ran for office in the aftermath of the great recession in 2008, serves as ranking member of the Subcommittee on Financial Institutions and Consumer Protection. (AP Photo/J. Scott Applewhite)

Warren called the legislation the “Bank Lobbyist Act,” and claimed the legislation would allow banks to take more risks and reap more profits.

Despite these objections, the Senate is expected to pass the bill.

This comes as Democrat leadership continues to crumble ahead of the midterm elections.