News Release

Senate Bank Bill Further “Enriches Wall Street” and Weakens Reforms


This week, the U.S. Senate is debating S. 2155, the first major attack on Wall Street reforms Congress passed under 2010’s Dodd Frank bank accountability legislation. A vote is expected by the end of this week. See “How Democrats Are Helping Trump Dismantle Dodd-Frank” by Talmon Joseph Smith in The New Republic.

BART NAYLOR, via Don Owens, dowens at; Nadia Prupis, nprupis at, @Public_Citizen@BartNaylor
Naylor is financial policy advocate in Public Citizen’s Congress Watch division and the former chief of investigations for the U.S Senate Banking Committee. He is scrutinizing Republicans, Sen. Angus King (I-Maine) and Democratic senators in Delaware, Indiana, Michigan, Missouri, Montana, North Dakota and Virginia who “are likely to support a bill that enriches Wall Street bankers far more than it ever will help communities and consumers.”

Naylor said today: “Ten years after a financial crash that cost millions of Americans their homes, jobs and savings, the U.S. Senate is moving forward with a measure to roll back safeguards against Wall Street recklessness,” Naylor said. “Disguised as a community banking bill, this misguided legislation eliminates safeguards for 25 of the 38 largest banks, a sector that received some $50 billion in bailout funds. The bill also slashes consumer protections meant to fight racially discriminatory lending practices and protect purchasers of manufactured housing.”