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Glass-Steagall Makes Progress in Congress

May 11, 2017 (EIRNS)—Reflecting broad popular support for restoring the 1933 Glass-Steagall banking separation law, another eight national legislators have signed on to the legislation submitted in the House of Representatives and the Senate on this subject. Sponsors for H.R. 790, Rep. Marcy Kaptur’s Return to Prudent Banking Act, have reached 48; among the five new signers is the second Republican Congressman, Rep. Mike Coffman of Colorado. Sen. Elizabeth Warren’s 21st Century Glass-Steagall Act (S. 881) has three additional sponsors: Sens. Tammy Baldwin (D-Wis.), Jeff Merkley (D-Ore.), and Ed Markey (D-Mass.). This brings the number to 9.