Banks strike out in omnibus

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Banks strike out in omnibus

Banks strike out in omnibus

The Hill-

The financial industry came up empty-handed in the massive government funding package unveiled early Wednesday morning.

After pushing for a host of policy riders, including provisions to rework portions of the Dodd-Frank financial reform law and delay a contentious rule on investment advisers, Wall Street had nothing to show for it in the final 2,000-page bill.

To add insult to injury, the banking industry was also unable to roll back a recent policy change that cut billions of dollars banks had received from the Federal Reserve for more than a century. That policy tweak was included in recent highway bill to help cover the costs for the overall legislation.

“Failing to pass needed regulatory relief while forcing banks to pay for roads and bridges is unconscionable and comes with very real costs for both hometown banks and the broader economy,” said Rob Nichols, the incoming president and CEO of the American Bankers Association.

[THE HILL]

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2 Responses to “Banks strike out in omnibus”

  1. crittermom says:

    “Failing to pass needed regulatory relief while forcing banks to pay for roads and bridges is unconscionable and comes with very real costs for both hometown banks and the broader economy,” said Rob Nichols, the incoming president and CEO of the American Bankers Association.
    HA! He has the audacity to use the word “unconscionable” after what the banks did to the middle class?
    Glad to see that Senator Warren had some clout in denying the banks.

  2. Yea! Yippee! Looks like Congress is finally getting it. We, the American people, are sick and tired of Wall Street acting like welfare queens while at the same time raping us of our assets. Hope. Hope indeed.

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