Finance Industry Falls Short in Wish List for U.S. Spending Bill
- Wall Street sought measures on broker rules, bank oversight
- Senator Warren and White House pushed back on lender lobbying
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Financial industry lobbyists were stymied in their efforts to slip measures helping banks, insurers and private-equity firms into the $1.1 trillion bill funding the U.S. government.
The failures are a stark contrast to 2014, when Wall Street successfully got a provision in the year-end spending legislation that watered down a requirement that banks move swaps trading out of entities that benefit from federal backstops.