Senator Elizabeth Warren has introduced aggressive banking legislation that aims to create a “strict divide between traditional banking and speculative activities,” reports New York Times Dealb%k.
Senator John McCain and other officials also support the bill. The NY Times adds the bill intends to put in place a “modern version of the seminal Glass-Steagall legislation from the 1930s.”
Read more on how this would affect bank operations.
Also, click here to watch a video about the potential new measures.
Read:
Carney reveals 5 monetary policy lessons