Image: House Financial Services Committee Chair Rep. French Hill (R-Ark.), accompanied by House Speaker Mike Johnson (R-La.), speaks with members of the media on Capitol Hill on May 15, 2026. (Photo by Andrew Harnik/Getty Images)

Jake Johnson of Common Dreams reports: “A broad coalition of advocacy organizations and labor unions warned Tuesday that Republican legislation currently moving through the US House of Representatives would deregulate Wall Street giants and increase the risk of another financial disaster under the guise of aiding community banks.

“This dangerous bank deregulation package would undermine core safeguards and supervision, push risk into the shadows, and make the next publicly financed bailout more likely,” an alliance of 28 advocacy groups wrote in a letter to members of Congress. “Further deregulation is especially alarming at a time when financial regulatory agencies are under political attack, pursuing industry-friendly agendas, and starved of resources, and when there is effectively no oversight of financial markets.”

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