The new power couple taking on Wall Street: J.D. Vance and Elizabeth Warren

July 06, 2023

Fueled by former President Donald Trump, it’s upending conservative politics and stirring tensions within the party about how it approaches the economy. “The executives responsible for running their banks into the ground are sitting on millions of dollars in compensation and bonuses,” Vance said at the time. “There’s sometimes some concerns from my Republican colleagues — some concerns that I share — that our Democratic colleagues are right to be wary of the power of Wall Street but maybe wrong to collapse Wall Street in with the regional banks and community banks,” Vance told POLITICO. The ICBA, with trade groups including the American Bankers Association and the Bank Policy Institute, says the legislation could harm consumers by forcing banks to limit credit card reward programs. “We were surprised by his support,” ICBA Executive Vice President Paul Merski said, noting opposition from Ohio bankers.