Allied Progress statement on House GOP calls on federal regulators to ease rules on Big Banks

WASHINGTON, D.C. (May 15th, 2019) — In response to reports that “House Republicans are calling on the Federal Reserve, FDIC and other financial regulatory agencies to pick up the pace of bank deregulation that’s underway and do more to ease rules for the largest lenders”, Allied Progress spokesman Jeremy Funk issued the following statement:

 “Just how misdirected are House Republicans’ priorities? They look at the record $59 billion in profits the big U.S. banks posted last quarter and somehow conclude that the industry is under too heavy a regulatory burden. It’s not like the Trump administration is actually enforcing existing banking regulations. It’s a good thing the lower chamber in controlled by those who are more interested in cleaning up bad banking behavior than inviting more of it.”

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