That's what the Senate is proposing to do with a bill called “The Economic Growth, Regulatory Relief and Consumer Protection Act.” This bill is aimed at reducing regulations for community banks. However, at the same time the bill includes the mega banks that were primarily responsible for the Great Recession. The bill eliminates several of the regulations that were aimed at the problems of the Great Recession. The Congressional Budget Office released an analysis showing that the legislation “would increase federal deficits by $671 million over the 2018-2027 period” while increasing the probability of a big bank failure.
Senator Warren discusses the issues below.
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