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Foreign Banks Get Out of New Banking Bill?

serfserf Member Posts: 7,511 ✭✭✭
edited March 2018 in Politics
Funny to see how the Big Money people lobby for bigger Bank casino rules while lumping all the losses on The America Taxpayers and account holders. The FDIC could not cover the losses unless they printed a lot more funny money.

serf


https://www.nytimes.com/2018/03/05/business/dealbook/broadcom-qualcomm-national-security.html

The bill loosens the part of the Dodd-Frank Act, the 2010 overhaul of the United States financial system, that imposed stricter regulations on larger banks, including foreign ones. Specifically, the bill, sponsored by Senator Mike Crapo, Republican of Idaho, would lightenthe regulation of banks that have less than $250 billion in loans, securities and other assets, a group that includes United States banks, like SunTrust and BB&T. But the bill?s critics are concerned that it will allow far larger foreign banks to chip away at rules designed to prevent them wriggling out of United States safeguard
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