Senator Warren Applauds Regulators for Rescinding Trump Administration Guidance, Urges Council to Protect Financial System After Banking Crisis
Press Release
Issues: Finance and Banking
"Biden administration regulators have taken a powerfully important step to protect hardworking Americans by finally heeding my call to strengthen oversight of giant nonbank financial institutions. We saw in the 2008 crisis how financial institutions that aren't banks -- including insurance companies, mortgage issuers, and hedge funds -- can be big enough and risky enough to crash our whole economy. The Trump administration put us all in danger by significantly weakening financial regulators' oversight of these giant corporations, and now FSOC should follow through by using this tool to ensure the stability of our financial system."
Source