Sen Warren Intensifies Calls For Tougher Constraints On Mid-Size Banks

Progressive Democrat Senator Elizabeth Warren (D-MA) has intensified her calls to repeal a 2018 bipartisan de-regulation bill (S.2155) seen by progressives as contributing to the collapse of Silicon Valley Bank.

• Warren told CNBC: "Need to put tougher constraints on mid-size banks back in place."
• Warren: "Banks under $50 bln would not be subject to new regulation."
• Warren: "Banks should not be conducting their own stress testing."
• Warren said yesterday: “We have an opportunity to pinpoint the exact provisions of S.2155 and pull them out of the statute, root and branch. If we do that, we’ll have a much safer banking system.”
• Punchbowl News reported this morning,"Progressives in Congress don’t have the votes to enact more regulations... But they still have plenty of power, and they’re ready to wield it."
• According to Punchbowl, "virtually every" moderate Senator indicated they would need more information before considering policy changes but changes may come from the executive.
• Punchbowl: "...progressives don’t need moderates’ votes to shape bank policy — at least not for now. Many of the key regulators leading the Biden administration’s banking agencies today are significantly more left-leaning than they were under the Obama administration."