A $1.1 trillion spending bill passed the House on Thursday. The bill keeps the government moving for around another year. The bill also includes the rollback of a controversial banking regulation. Apparently, Citigroup authored most of the rollback language.
The language in the spending bill was inserted by Representative Kevin Yoder, Republican of Kansas, but he did not write it. Citigroup did. In 2013, the bank and its allies were able to corral a bipartisan vote to pass the rollback out of the House Financial Services Committee. In an analysis by The New York Times of Citigroup emails, more than 70 lines of the committee’s 85-line rollback bill came from Citigroup’s recommendations.