President Donald Trump and other supporters of the major banking bill that cleared the Senate on Wednesday say they want to rescue the nation’s lenders from a crush of regulations.
But far from being crushed, the industry looks more like it's booming.
Banks have hauled in record profits for the last three years and will be among the biggest winners under the new tax-reform law. Their loans are growing by 4 to 5 percent a year, well within historical norms. And even community banks, which the bill’s backers say they’re most concerned about, are making money.
With all the problems facing the country, this kind of makes me wonder why the Senate thought banks needed the most attention this week.
0 thoughts on “Politico’s Victoria Guida: Congress rides to the rescue of thriving bankers”
The banks have not earned the trust of the American people back since all of the shenanigans started prior to 2008. Many banks are still partaking in actions concerning National Mortgage Settlement families who had foreclosures in 2009. There are many court actions occurring using the very same fraudulent documents from the original illegal foreclosures to acquire illegal deficiencies and BOGUS contract cases.
These CRIMES are still happening to NMS victims who should never have had further litigation based on their felonious foreclosures . Allowing ongoing NMS 15.(a) CRIMES to continue proves banks can break the law at will without any real consequences.