Kamala Harris and Katie Porter Intro Bill to Take on Big Banks, Including Trump's

[DonViejo]

There is hope that a Democratic-led House could pass their bill.

Gideon Resnick
Political Reporter

Updated 06.26.19 10:21AM ET Published 06.26.19 5:16AM ET

Sen. Kamala Harris (D-CA) and freshman Rep. Katie Porter (D-CA) are teaming up on legislation to hold banks and Wall Street executives accountable.

The bill, the Accountability for Wall Street Executives Act, would allow for state attorneys general and state law enforcement to conduct oversight of national banks regarding compliance with state law, including giving them the ability to issue subpoenas to examine bank records and interview bank executives.

The goal of the legislation is to deter the conditions that, experts say, led to the subprime mortgage crisis in the late aughts. And none of the major banks would seem to be immune.

Deutsche Bank, which is now under criminal investigation for possible money-laundering lapses including allegedly suspicious activities linked to entities tied to Donald Trump, would be subject to subpoenas if there was reason to believe that it too was not complying with state financial protection laws, according to a Harris aide. Though a Treasury Department official disputed that it would arguing that its primary activities are regulated by the State of New York and the Federal Reserve.

more
https://www.thedailybeast.com/kamala-harris-and-katie-porter-intro-bill-to-take-on-big-banks-including-trumps?ref=home

[CTyankee]

1. Katie and Kamala kicking ass!

That is wonderful. Refreshing news!

[Bayard]

2. I've been very impressed

With what I've seen of Rep. Porter.

[riversedge]

3. I wish my mind was half as good as hers. She can rattle of information without reading at

the speed of light.

[GemDigger]

4. My two favorite women in office, kicking ass and taking names!