Warren Statement Ahead of House Vote on Big Bank Deregulatory Bill

Warren Statement Ahead of House Vote on Big Bank Deregulatory Bill

Washington, D.C. - Today, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, released the following statement:

"While American families struggle to afford everyday expenses, House Republicans are advancing a key pillar of President Trump's Wall Street First Agenda. The Main Street Capital Access Act is a massive giveaway to Wall Street masquerading as a community bank relief bill. The bill would relax supervision of big banks and their executives, fast track big bank mergers, exempt more big banks from enhanced oversight, and provide big bank lawyers with new tools to overturn safeguards and enforcement actions in court. And it shreds bipartisan compromises struck during the negotiation of the 21st Century ROAD to Housing Act, inviting much greater risk into the banking system.

"While these provisions would further increase Wall Street's record profits and executive bonuses, they would also increase the likelihood of big bank failures, lead to consumer harm, impair small business access to credit, and reduce the number of community banks in the country.

"The House should not pass this reckless bill."

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