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  • GOP Lawmakers Blindsided by Trump's Embrace of Glass-Steagall

    07/20/2016 8:48:11 AM PDT · by b4its2late · 56 replies
    American Banker ^ | July 19, 2016 | By Ian McKendry
    WASHINGTON — The eleventh-hour move by the Donald Trump campaign to add a plan to reinstate the Glass-Steagall Act to the Republican platform caught GOP lawmakers off guard, with some of them expressing disappointment with the decision. While the 1930s-era law, which separated commercial and investment banking activities, is strongly supported by progressive Democrats, it is not popular among most Republican policymakers. "I was completely surprised," Rep. Steve Stivers, R-Ohio, a member of the House Financial Services Committee, said in an interview here hours before Trump's formal nomination Tuesday evening. "It was a late addition. I am not sure how...