ICYMI: Politico: GOP ‘step up their [banking] deregulation effort’

Washington D.C. — In response to the Politico’s reporting that Congressional Republicans are “hounding President Donald Trump’s appointees to step up their [banking] deregulation efforts ,” Allied Progress spokesman Jeremy Funk issued the following statement:

“More and more Congressional Republicans are openly crying mercy for the big banks. They say it’s time regulators forgive and forget the industry’s starring role in the financial crisis that led to the Great Recession — and they assume the public already has (they haven’t). Considering Republicans on the HFS Committee alone have taken over $20 million from the banking industry, their eagerness to let their friends off the hook is not shocking. What is shocking is they think anyone will buy the argument big banks are overburdened by regulation after posting a record $59 billion in profits and with banking enforcement actionsat historic lows under the Trump administration.”

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