Glass-Steagall Revival Opens Door To Tough New Bank Rules

Law360, New York (July 12, 2013, 7:57 PM EDT) -- The recent bipartisan effort to resurrect the Glass-Steagall Act’s firewall between commercial and investment banking may ultimately be doomed, but experts say the high-profile push will reframe the debate over bank size and function and give lawmakers room to toughen bank regulation.

Sens. Elizabeth Warren, D-Mass., and John McCain, R-Ariz., introduced legislation Thursday that would reinstate a modernized version of the Depression-era banking law. The move came just a few months after two of their Senate colleagues launched a proposed bill to raise capital requirements for...
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