WASHINGTON — It appeared like a good suggestion on the time: Purple-state Democrats going through grim reelection prospects would be part of forces with Republicans to slash financial institution rules — demonstrating a willingness to work with President Donald Trump whereas bucking many of their occasion.
Washington
Army of lobbyists helped water down banking regulations
The rollback was was leveraged with a lobbying marketing campaign that price tens of thousands and thousands of {dollars} and drew a military of a whole lot of lobbyists into the hassle. It additionally was seeded with ample marketing campaign contributions.
The episode gives a recent reminder of the facility that bankers wield in Washington, the place the trade spends prodigiously to combat regulation and sometimes hires former members of Congress and their employees to make the case that they don’t seem to be a supply of danger to the economic system
“The underside line is that these banks would have confronted a harder supervisory framework underneath the unique … legislation, however Congress and the Trump regulators took an ax to it,” mentioned Carter Dougherty, a spokesman for People for Monetary Reform, a left-leaning monetary sector watchdog group. “We will draw a direct line between the deregulation of the Trump interval, pushed by the financial institution foyer, and the chaos of the previous couple of weeks.”
President Joe Biden has requested Congress for the authority to impose harder penalties on failed banks. The Justice Division and the Securities and Alternate Fee have began investigations. And congressional Democrats are calling for brand new restrictions on monetary establishments.
However to date there isn’t a indication that one other bipartisan coalition will type in Congress to place harder rules again in place, underscoring the banking trade’s continued clout.
That affect was on full show when the banking foyer labored for 2 years to water down elements of the 2010 Dodd-Frank legislation that had positioned weighty rules on banks designed to scale back client danger and power the establishments to undertake safer lending and investing practices.
Republicans had lengthy appeared to blunt the impression of Dodd-Frank. However relatively than push for sweeping deregulation, Sen. Mike Crapo, an Idaho Republican who led the Senate banking committee, hoped a narrowed focus may draw sufficient help from average Democrats to clear the Senate’s 60-vote filibuster threshold.
Crapo broached the concept with Democratic Sens. Jon Tester of Montana, Joe Donnelly of Indiana and Heidi Heitkamp of North Dakota — all on the poll in 2018 — in addition to Mark Warner of Virginia. By the autumn of that yr, the bipartisan group met recurrently, in accordance with a duplicate of Tester’s workplace schedule posted to his Senate web site.
A lobbying technique additionally emerged, with corporations and commerce teams that particularly point out Crapo’s laws spending greater than $400 million in 2017 and 2018, in accordance with an Related Press evaluation of the general public lobbying disclosures.
The invoice was bought to the general public as a type of regulatory aid for overburdened neighborhood banks, which serviced farmers and smaller companies. Neighborhood bankers from throughout the U.S. flew in to Washington to satisfy repeatedly with lawmakers, together with Tester, who had 32 conferences with Montana financial institution officers. Native financial institution leaders pushed members of their congressional delegation after they returned house.
However the measure additionally included provisions sought by midsize banks that drastically curtailed oversight as soon as the Trump Fed completed writing new rules necessitated by the invoice’s passage.
Particularly, the laws lifted the brink for banks to be thought-about “too large to fail” — a designation that carries a strict routine of oversight, together with obligatory monetary stress testing.
That part, which successfully carved massive midsize banks out of extra stringent regulation, has come underneath new scrutiny in gentle of the failure of Silicon Valley Financial institution and Signature Financial institution, whose executives lobbied on behalf of the 2018 rollback.
“The lobbyists have been all over the place. You couldn’t throw an elbow with out operating into one,” Sen. Elizabeth Warren, a Massachusetts Democrat who vehemently opposed the invoice, instructed reporters final week.
Marketing campaign checks have been written. Advertisements have been reduce. Mailers went out.
As a reward for his or her work, Heitkamp ($357,953), Tester ($302,770) and Donnelly ($265,349) grew to become the highest Senate recipients of cash from the banking trade through the 2018 marketing campaign season, in accordance with OpenSecrets, a nonpartisan group monitoring cash in politics.
Democratic Senate chief Chuck Schumer freed members to vote for the invoice, a transfer meant to bolster the standing of susceptible average incumbents. However the transfer additionally bitterly divided the Democratic caucus, with Warren singling out the moderates as doing Wall Avenue’s bidding.
Within the hours earlier than the invoice handed the Senate with 17 Democratic votes, Heitkamp took to the chamber flooring to inveigh in opposition to the “diatribe,” “hyperbole” and “overstatement” from opponents of the invoice.
Tester, in the meantime, huddled with executives from Financial institution of America, Citigroup, Uncover and Wells Fargo, who have been there on behalf of the American Bankers Affiliation.
The American Bankers Affiliation, which helped lead the push, later paid $125,000 for an advert marketing campaign thanking Tester for his position within the invoice’s passage, information present.
Lower than a month after the invoice was handed out of the Senate, Tester met Greg Becker, the CEO for the now-collapsed Silicon Valley Financial institution, in accordance with his schedule. Becker particularly lobbied Congress and the Federal Reserve to take a light-weight regulatory method with banks of his measurement. Lobbyists with the agency the Franklin Sq. Group, which had been retained by Silicon Valley Financial institution, donated $10,800 to Tester’s marketing campaign, report present.
Heitkamp was the one member of the group invited to the invoice signing ceremony, beaming alongside Trump. Later, People for Prosperity, the grassroots conservative group funded by the billionaire industrialist Koch brothers, ran a web based advert commending Heitkamp for taking a stand in opposition to her occasion.
In an interview, Heitkamp pushed again in opposition to recommendations that the laws was straight liable for the collapse of Silicon Valley Financial institution. She acknowledged, nonetheless, that there was an open query about whether or not new guidelines put in place by the Fed after the measure was signed into legislation may have performed a job.
“I’m prepared to have a look at the argument that this had one thing to do with it,” Heitkamp mentioned, including: “I feel you can find that (the Fed) was engaged in some degree of some supervision. Why that didn’t work? That’s the query that must be resolved.”
In an announcement issued final week, Tester didn’t straight deal with his position within the laws, however he pledged to “tackle anybody in Washington to make sure that the executives at these banks and regulators are held accountable.”
Cam High quality, who led the Impartial Neighborhood Bankers of America commerce group through the legislative push, mentioned the general the invoice was a superb piece of laws that provided a lot wanted aid to struggling neighborhood banks.
However like all main piece of laws that strikes via Congress, last passage hinged on help from a broad coalition of pursuits — together with these of Wall Avenue and midsize banks.
“Was it an ideal piece of laws? No. However there’s an previous saying in Washington: You’ll be able to’t let the right be the enemy of the nice,” mentioned High quality.
Most of the average Democrats who supported the measure didn’t fare as effectively.
Of the core group who wrote the invoice, solely Tester gained reelection. Others from purple states who supported it, together with Claire McCaskill of Missouri and Invoice Nelson of Florida, misplaced.
Tester can be on the poll once more in 2024. Final week he was in Silicon Valley for a fundraiser.
One of many occasion’s sponsors was a associate at a legislation agency for Silicon Valley Financial institution.
Candy reported from New York. Related Press author Kevin Freking contributed to this report.
Washington
RECAP: Lions vs. Commanders
The Detroit Lions’ historic season has come to a heartbreaking end.
The top-seeded Lions were upset by the No. 6 seed Washington Commanders, 45-31, Saturday night at Ford Field in the Divisional Round of the playoffs as their season ends in disappointment after a record-setting 15-win regular season and their second straight NFC North title.
“They earned that win and we didn’t,” an emotional Lions head coach Dan Campbell said after the game. “We just didn’t play good enough. Really, we never complemented each other. I felt that way going into halftime and it really never got better.”
The Lions’ defense knew they had a tough task coming in trying to limit Commanders rookie quarterback Jayden Daniels, who will likely be the Offensive Rookie of the Year, and the Lions had few answers defensively for Daniels and the Commanders’ fifth-ranked scoring offense all evening.
Daniels led three first-half touchdown drives as Washington racked up over 300 yards of offense in the first 30 minutes and led 31-21 at halftime. The Commanders also got a 40-yard pick-six by safety Quan Martin on a ball overthrown by quarterback Jared Goff intended for wide receiver Tim Patrick in the second quarter that helped push the halftime lead to double digits.
The Lions gained 521 yards of offense but ultimately couldn’t overcome five turnovers with three Goff interceptions, one Goff fumble and a Jameson Williams interception on a trick play end-around pass.
“We turn the ball over five times, the (last) one is whatever, so call it four, it’s just too much,” Campbell said. “Too hard against a team like that to come back. We tried, but couldn’t quite get over the hump.”
After Detroit trimmed the lead to 31-28 midway through the third quarter, Daniels led a 15-play, 70-yard scoring drive that took up eight and a half minutes off the clock and culminated with a 1-yard Brian Robinson Jr. touchdown to push the lead back up to 10 to begin the fourth quarter.
Washington essentially sealed the win after the Williams interception on Detroit’s next possession by turning it into a Jeremy McNichols 1-yard touchdown run and a 45-28 lead midway through the fourth quarter. Washington converted a 4th & 2 at the Detroit 13-yard line down to the 1-yard line that proved to be the dagger on the scoring drive.
Daniels finished the game 22-for-31 passing for 299 yards with two touchdowns, no interceptions and a 122.9 passer rating. He also added 51 rushing yards.
Detroit’s injuries on defense finally seemed to catch up with them. Cornerback Amik Robertson left the game with an elbow injury on the second play of the game and didn’t return. The Lions came into the game with 13 defensive players on IR, including six starters. Washington ended the game with 481 yards of total offense and were 3-for-4 converting on fourth down.
Goff ended the game completing 23 of his 40 pass attempts for 313 yards with one touchdown. His three interceptions and one fumble were costly turnovers for the Lions as he finished with just a 59.7 passer rating. Goff fumbled at the Washington 25-yard line that killed a scoring chance. He had the pick-six and also threw an interception in the Washington end zone late in the first half and one at the Washington 2-yard line late in the fourth quarter.
“It sucks. Worst part of this job,” Goff said after the game. “You hate when you feel like you let guys down. It’s hard to put into words. It just sucks.
“I wish I could have played a little bit better. Wish I could have taken care of the ball a little better. The pick six is really the one I’d like back. That was just a poor decision by me. It’s on me. I have to take care of it better.”
Detroit got touchdowns on a 1-yard run by Jahmyr Gibbs, a 2-yard catch by tight end Sam LaPorta, a 61-yard run by Williams and an 8-yard Gibbs run.
Gibbs finished the game with 105 rushing yards and two touchdowns with six receptions for 70 yards. Wide receiver Amon-Ra St. Brown had eight receptions for 137 yards.
Washington
Washington Commanders Roster Moves: Colson Yankoff is back!
The Washington Commanders are in Detroit to play the Lions tonight at 8pm. It’s been a pretty quiet, and healthy, week for the Commanders as they prepared for their first divisional playoff game since 2006. They only ruled one player out for tonight’s game, and just announced their practice squad elevations and roster moves.
Rookie LB Jordan Magee was ruled out after aggravating his hamstring injury. He was placed on injured reserve today. That gives Washington an open roster spot which was used to activate TE Colson Yankoff from IR. His 21-day practice window was opened last Wednesday, and he was a full participant in every practice over the last two weeks.
Washington also elevated CB Kevon Seymour and DE Andre Jones Jr from the practice squad for tonight’s playoff game. Seymour has been used exclusively on special teams this season. Andre Jones Jr was elevated twice during the season, and played 17 snaps on defense.
We have made the following roster moves:
— Placed LB Jordan Magee on the Reserve/Injured List
— Activated TE Colson Yankoff from the Reserve/Injured List and removed him from the injury report
— Elevated DE Andre Jones Jr. and CB Kevon Seymour from the practice squad pic.twitter.com/1z96W9N2Xb— Washington Commanders (@Commanders) January 18, 2025
Washington
Washington pharmacists prescribe abortion pills through new pilot program • Oklahoma Voice
A Washington state-based nonprofit has launched a program training pharmacists to prescribe abortion medications via telehealth, a model that organizers hope other states will adopt to expand abortion access.
Abortion is broadly legal in Washington state up to the point of fetal viability, which is generally considered to be between 24 and 26 weeks of pregnancy. But Dr. Beth Rivin, president and CEO of nonprofit Uplift International, said there are still many individuals who face barriers to abortion access in Washington because of where they live, how much money they make and other factors. Those people can benefit most from having access to telehealth, Rivin said, and having pharmacists available helps increase that availability.
The nonprofit partnered with an online pharmacy called Honeybee Health to launch what they’re calling the Pharmacist Abortion Access Project. Ten pharmacists were recruited and trained to prescribe mifepristone and misoprostol, the standard U.S. Food and Drug Administration-approved medication abortion regimen, to patients in Washington up to 10 weeks’ gestation.
Rivin said the team created its training protocol with Dr. Sarah Prager, a professor of obstetrics and gynecology at the University of Washington. The program also has a list of clinics where patients can be referred if any in-person follow-up care is necessary, including ultrasounds, blood tests or other exams.
“If (patients) had questions, the platform allowed for messaging between the pharmacist and the individual, and patients were followed up with at one week and four to five weeks after prescriptions were written,” Rivin said.
Over the past two years, anti-abortion groups have increasingly called for more state legislation targeting abortion drugs, alleging telemedicine for abortion pills is dangerous to a pregnant person’s health. Research has repeatedly shown that telehealth prescriptions are just as safe as in-person treatment, with one recent study showing 99.7% of patients out of a sample of 6,000 did not experience any serious complications. Similarly, 97.7% didn’t need any form of additional follow-up care.
“Research confirms that medication abortion can be prescribed through telehealth just as safely as in person, and it confirms that pharmacists can specifically prescribe medication abortion,” Rivin told States Newsroom. “The training they undergo through (the project) mirrors the training that other providers receive.”
The Heritage Foundation, the conservative group behind a set of policies known as Project 2025, has gathered several examples of abortion pills given to pregnant women without their consent. Using those examples, the organization recommends states ban telemedicine and mail-order abortion pills and strengthen or enact laws targeting abortion coercion. There have also been calls to use a dormant federal law called the Comstock Act to ban abortion pills from being sent by mail altogether.
Proof of residency not required to obtain pills by mail
By the end of the Washington pilot program, which took place between Oct. 31 and Nov. 26, 2024, the pharmacists successfully prescribed medication abortion to 43 people who were deemed eligible. To qualify, aside from the applicable medical protocol, the patient needed to be 18 or older and have a Washington address where the medication could be mailed. The recipient of the medication does not need to prove they are a Washington resident, but a valid Washington address must be provided. Washington has shield laws preventing states where abortion is illegal from investigating medical providers if a resident of that state obtains an abortion in Washington.
Following the success of the pilot, Uplift International said it plans to expand the program across Washington and explore pharmacists prescribing medication abortion in person from brick-and-mortar pharmacies.
Rivin said the hope is that the project paves the way for other states to implement the same model, especially as President-elect Donald Trump takes office and Republicans in Congress may eye more federal abortion restrictions.
“It is the first step toward mainstreaming pharmacists as prescribers of medication abortion in person,” Rivin said.
Don Downing, a clinical pharmacy professor emeritus at the University of Washington and co-director of the project, said Washington has one of the most progressive pharmacy laws in the country. State law has recognized pharmacists as health care providers since 1979, allowing them to prescribe many medications approved by the FDA.
Washington shares that progressive pharmacy law status with one of its border states, Idaho, where pharmacists can also prescribe medications for minor ailments such as cold sores and allergies, as well as drugs for treatment of illnesses such as flu and strep throat. Downing said Idaho’s pharmacy laws are actually even more progressive than Washington’s.
However, Idaho has an abortion policy that could hardly be more different. It is the only state in the Northwest with a near-total abortion ban, a civil enforcement law allowing family members to sue medical providers who perform an abortion, and a so-called “abortion trafficking” law making it a felony to take a minor to a state with legal abortion access without parental permission.
Ironically, Downing said the pilot team announced the project in Idaho during an annual pharmacy meeting held at a resort in Coeur d’Alene with pharmacists from Montana, Oregon, Washington, Idaho and Alaska.
“We presented the idea of pharmacists becoming much more involved in medication abortion access at that meeting, and it was surreal because Idaho at that time was just pouncing on women’s access to abortion,” Downing said.
Providing prescriptions via telehealth first was the priority, he said, because after conducting several listening sessions before launching the pilot, the consensus among women interviewed was that they preferred the privacy of an online experience.
“If you’re in a small town, if you go to the doctor’s office, you go to the school nurse, a pharmacy, there’s a good chance you’re going to see a neighbor, a relative, and someone is for sure going to ask you what you’re doing there today,” Downing said. “Women nationwide are increasingly saying, if I can get it online the same way we buy from Amazon, if I can do this without running into my aunt, so much the better.”
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