July 22, 2016
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"On Monday, Kaine signed onto two letters, one to federal banking regulators and the other to the Consumer Financial Protection Bureau, urging them to loosen regulations on certain financial players. The timing of the letters, sent while Kaine is being vetted for the top of the ticket, could show potential financial industry donors that he is willing to serve as an ally on their regulatory issues.
In the letters, Kaine is offering to support community banks, credit unions, and even large regional banks. While separate from the Wall Street mega-banks like JPMorgan Chase and Bank of America, these financial institutions often partner with the larger industry to fight regulations and can be hostile to government efforts to safeguard the public, especially if it crimps their profits."
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