WASHINGTON – Today, U.S. Sen. Mark R. Warner (D-VA), a member of the Senate Committee on Banking, Housing and Urban Affairs, released a statement today:
“Legal experts, senior banking officials, and former Republican and Democratic regulatory officials all agree: the proposal to pull back on the Fed’s 13(3) authority would set a terrible precedent, hurt the Fed’s independence, and weaken its ability to respond quickly to future crises.”
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