Top US Senate Democrat Schumer: US needs strong, bipartisan legislation on banking

The United States needs "strong legislation" on banking regulation, Senate Majority Leader Chuck Schumer said on Wednesday, "hopefully" something bipartisan. Schumer made the comments in response to a question on whether he would support legislation spearheaded by Democratic Senator Elizabeth Warren, which would reinstate banking regulations and oversight rolled back under former President Donald Trump.

He declined to say whether he would support the legislation, insisting that he has faith in President Joe Biden, Treasury Secretary Janet Yellen and the U.S. Federal Reserve.