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U.S. Senator Chuck Schumer (D-NY) answers questions during a news conference following their tour of the Arizona-Mexico border in Nogales, Arizona March 27, 2013.
U.S. Senator Chuck Schumer (D-NY) answers questions during a news conference following their tour of the Arizona-Mexico border in Nogales, Arizona March 27, 2013.
(Samantha Sais/Reuters)

BREAKINGVIEWS

U.S. Senate banking committee needs a firebrand

Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks.

Less is more when it comes to the new top American banking lawmaker. The next chairman of the Senate Banking Committee needs to minimize conflicts of interest with the industry the body oversees, giving Ohio’s Sherrod Brown the edge over his New York counterpart Charles Schumer. Brown may have some fringe views about breaking up banks, but he’s more likely to challenge the status quo than a friend of Wall Street.