“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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