Army of lobbyists worked to water down bank rules that regulated SVB and Signature: ‘You couldn’t throw an elbow without running into one’

How an army of lobbyists helped water down banking rules

In 2018, some Red-state Democrats allied with Republicans to deregulate the banking industry. That was a mistake, critics say.

Army of lobbyists helped water down US banking regulations

WASHINGTON (AP) — It seemed like a good idea at the time: Red-state Democrats facing grim reelection prospects would join forces with Republicans to slash bank regulations — demonstrating a willingness to work with President Donald Trump while bucking many in their party. That unlikely coalition voted in 2018 to roll back portions of a […]

Army of lobbyists helped water down banking regulations

It seemed like a good idea at the time: Red-state Democrats facing grim reelection prospects would join forces with Republicans to slash bank regulations.

Army of lobbyists helped water down banking regulations

It seemed like a good idea at the time: Red-state Democrats facing grim reelection prospects would join forces with Republicans to slash bank regulations — demonstrating a willingness to work with President Donald Trump while bucking many in their party. That unlikely coalition voted in 2018 to roll back portions of a far-reaching 2010 law intended to prevent a future financial crisis. But those changes are now being blamed for contributing to t…

Hundreds of lobbyists pushed government to water down banking regulations

An unlikely coalition voted in 2018 to roll back portions of a far-reaching 2010 law intended to prevent a future financial crisis. But those changes are now being blamed for contributing to the recent collapse of Silicon Valley Bank and Signature Bank.

Army of lobbyists helped water down banking regulations

A handful of red state Democrats were instrumental helping Republicans secure a rollback of banking regulations sought by then-President Donald Trump in 2018.