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Bank Lobbyists Gearing Up to Take Down New Glass-Steagall Bill


Lobbyists for big banks are gearing up for a new battle.

A bipartisan group of Senators, led by Sen. Elizabeth Warren (D-Mass.) and Sen. John McCain (R-Az.), have introduced the 21st Century Glass-Steagall Act, a modern version of the Depression-era Banking Act of 1933. This isn't the first time Congress has tried to revive a version of Glass-Steagall but all previous efforts have failed.