WASHINGTON (AP) — Democratic Sen. Mark Warner of Virginia is warning bankers that legislation rolling back financial rules put in place after the 2008 economic crisis could stall.
Warner says legislation revamping the law known as Dodd-Frank “will not pass if it comes back to the Senate” for another vote.
Warner’s comments are a warning shot to House Republicans. They want to amend Senate-passed legislation that would provide regulatory relief for banks.
But Warner tells members of the American Bankers Association that 17 Democrats who voted for the Senate bill have taken “an awful lot of heat.” They’re not anxious to revisit the debate.
The bankers are in Washington for a conference. Warner tells them the Senate bill contains several House provisions and “we’ve stretched this about as far as we can go.”