Senator Heitkamp rebuts critics of banking deregulation bill

North Dakota Senator Heidi Heitkamp says Federal Reserve Chair Jay Powell testified weeks earlier that a banking deregulation bill than before the Senate would not exempt foreign banks from tough oversight under the Dodd-Frank law supervision, calling on colleagues to debate actual merits of the bill and not bogeyman merits and statements that the bill would somehow lead to a catastrophic downfall of the financial system, to set the record straight on what the bill does and does not do to make sure that when a court reviewing the provision if there was ever litigation could see corrected misstatements about the actual intended outcome of the bill as written.