Elizabeth Warren hasn’t even taken office yet, and already banking lobbyists are reportedly lining up to prevent her from possibly taking a spot on the Senate Banking Committee.
Andy Kroll of Mother Jones reports:
Aides to two senators on the banking committee tell Mother Jones the industry has already moved to block Warren from joining the committee, which is charged with drafting legislation regulating much of the financial industry. “Downtown”—shorthand for Washington’s lobbying corridor—”has been going nuts” to keep her off the committee, another Senate aide says.
Sen. Jack Reed (D-R.I.), a banking committee member, has been angling to get Warren on the committee, “but there are many bank lobbyists pushing to keep her off,” a top Democratic Senate aide told Politico‘s Morning Money tipsheet. But the aide added, “If she really wants banking, it will be very tough politically to keep her off.”
This would be the second time banks fought a hard battle against Warren, who was blocked from taking a post as head of the Consumer Financial Protection Bureau in 2011.