US bank reform steps nearer
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.US bank reform steps nearer
Reform of US banking laws moved a step nearer last night when the House of Representatives banking committee voted 29-8 to reform the Glass-Steagall Act which prohibits retail banks from investment banking activity such as underwriting securities issues. The Act is one of a series of restrictions imposed on US banks which go back to the days of the Wall Street crash and the great pre-war depression. The draft legislation would allow banks and securities houses to operate under the common ownership of a holding company.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments