Dems Team Up with GOP to Weaken Bank Rules, Which Critics Say May Lead to More Bailouts & Misconduct

On Tuesday, 16 Senate Democrats joined with 50 Republicans to advance a bill slated to roll back key financial regulations passed in the wake of the 2008 financial crisis. The bill would exempt 25 of the nation’s 40 largest banks from being subject to heightened scrutiny by the Federal Reserve. If it passes, it would be the biggest weakening of the Dodd-Frank Act since it was signed into law in 2010. The 67-32 vote in favor of a “motion to proceed” now sends the bill back to the floor for debate and possible amendments before a final vote in the coming days. We speak to Alexis Goldstein, a senior policy analyst at Americans for Financial Reform.

Democracy Now! is an independent global news hour that airs weekdays on nearly 1,400 TV and radio stations Monday through Friday. Watch our livestream 8-9AM ET: https://democracynow.org

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