Hawley Co-Sponsors Bill to Ban Special Assessment Fees From Being Passed On To Bank Customers
March 20, 2023 5:58AM CDT
FILE – IN this Jan 15, 2019 file photo, Senate Judiciary Committee committee member Sen. Josh Hawley, R-Mo., questions Attorney General nominee William Barr during a Senate Judiciary Committee on Capitol Hill in Washington. Hawley is facing conservative backlash after raising concerns with President Donald Trump’s nominee to a high-profile appeals court. The Judicial Crisis Network on Monday announced plans to spend $500,000 on Missouri ads to sway Hawley to support D.C.-area U.S. Circuit Court of Appeals nominee Neomi Rao. Hawley on Monday told KFTK 97.1 FM Newstalk’s Marc Cox that Rao doesn’t have a strong record on abortion. (AP Photo/Carolyn Kaster, File)
(MISSOURINET) – Some Republicans in Congress are balking at Democratic President Joe Biden’s announcement that special assessment fees will be levied on banks to cover the cost of the failure of Silicon Valley Bank and Signature Bank. In response, Missouri U-S Senator Josh Hawley is co-sponsoring a bill that would bar banks from passing on the cost of those fees to their customers:
President Biden says, though, that taxpayers will NOT bear the costs. Other Democrats say the president’s plan will help prevent a run on banks in other parts of the country.