Independent news has never been so important.

Did you know that you can get Democracy Now! delivered to your inbox every day? Sign up for our Daily News Digest today! Don't worry, we'll never share or sell your information.

Dems Introduce Bill to Reinstate Dodd-Frank Regulations After Twin Bank Failures

HeadlineMar 15, 2023

Senator Elizabeth Warren introduced a bill to repeal the Trump-era rollback of the Dodd-Frank Act following the collapse of Silicon Valley Bank and Signature Bank. The bill brings the threshold for banks that must undergo extra federal regulations back down to at least $50 billion in assets. The limit was raised to $250 billion in 2018 after lobbying by the banking industry, including SVB, which held around $209 billion in assets. This is Senator Warren speaking Tuesday.

Sen. Elizabeth Warren: “The federal government once again was called on to take extraordinary measures, the kind of measures that Dodd-Frank was originally supposed to protect us against. These threats should never have been allowed to materialize. And now we must prevent them from occurring again.”

Congressmember Katie Porter unveiled a similar bill in the House. This comes as reports emerged that the Justice Department and the Securities and Exchange Commission opened investigations into the collapse of SVB.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation