Moderate House Democrats are drafting a proposal that would continue to shield big banks from potentially tougher state regulations of credit cards, mortgages and savings accounts.
The plan would differ from President Barack Obama’s proposal to give states a role in regulating large financial institutions that operate nation-wide. The lawmakers say it would be more practical and less expensive not to force the banks to comply with 50 different regulatory regimes. Read more about the U.S. Congress and banks…
