March 15, 2023

Congressman Moulton Endorses New Banking Regulations Bill led by Senator Warren and Congresswoman Porter

WASHINGTON, D.C. – On Wednesday, March 15, Congressman Seth Moulton (D-MA) issued the following statement in support of the Secure Viable Banking (SVB) Act led by Senator Elizabeth Warren (D-MA) and Congresswoman Katie Porter (D-CA):

“I agree with Senator Warren and Congresswoman Porter that we must reinstate these vital regulations on big banks. This legislation will safeguard American families and help prevent future bank failures from taking the entire system down with them. I am proud to join their bill as a cosponsor and call on Speaker McCarthy to immediately put this to a vote.”

The statement comes after Congressman Moulton introduced the Stabilizing Vulnerable Banks (SVB) Act yesterday. Both bills would restore critical banking regulations from the Dodd–Frank Wall Street Reform and Consumer Protection Act (2010) that were rescinded during the Trump administration and reinstate prior thresholds for regulations governing large banks with assets over $50 billion.

For more information on the Stabilizing Vulnerable Banks Act, the bill announcement is available here.