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Army of lobbyists helped water down banking regulations

“The bottom line is that these banks would have faced a tougher supervisory framework under the original … law, but Congress and the Trump regulators took an ax to it,” said Carter Dougherty, a spokesman for Americans for Financial Reform, a left-leaning financial sector watchdog group. “We can draw a direct line between the deregulation of the Trump period, driven by the bank lobby, and the chaos of the last few weeks.”

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