The collapse of Silicon Valley Bank and the turmoil in the banking industry provide a moment for Senator Elizabeth Warren to come back into the limelight. And Warren, who has come to the fore as a consumer protection advocate and has long made headlines for beating banks, seizes the opportunity. Last week, Massachusetts' progressive and one-time presidential candidate launched a sweeping offensive. He announced the law, signed by former President Trump, repealing the 2018 deregulation act that raised the threshold from $50 billion to $250 billion for banks subject to federal scrutiny. He's been consistently featured in cable news, appearing more times for Sunday's program tour this weekend, writing a column in The New York Times, and former SVB CEO Greg Becker on lobbying to roll back regulations in 2018. He put pressure on. For some Senate Democrats, it's an invaluable voice on the subject. "Very important," Senator Bob Casey , a backer of Warren's new banking proposal, told The Hill. "He not only has a great commitment to consumers and families, he has a lot of broader expertise, and he's a great reporter and advocate for these issues." But Warren's ongoing criticism is set to give a headache to President Biden and other Senate Democrats, especially those who voted for 2018's recall and are poised for re-election in 2024. In total, 12 senators meeting with Democrats voted on the bill - including Senator Kirsten Cinema , who voted in the House - that raised the asset threshold to $250 billion, leaving the SVB and dozens of other banks exempt from tight federal scrutiny. Warren's legislation, the Safely Enforceable Banking Act, was introduced in the House by progressive Representative Katie Porter . Despite the warm reception from some corners of the party, it was not embraced by the Democratic leadership. When asked if he supported Warren's plan, Senate Majority Leader Chuck Schumer told reporters "strong legislation" was needed, but any bill had to be bipartisan. Still, the leadership is extremely aware of Warren during this time of banking turmoil. After The Hill noted Warren's voice on the subject this week, the 3rd-ranked Senate Democrat, Senator Debbie Stabenow , "Really?" "She's definitely a voice that's always respected," said Stabenow, who voted for the 2018 bill. “[Question] what exactly are we trying to solve? … I am so grateful to have President Biden and his team. They moved very quickly and I think they did an incredibly competent job of being able to move quickly to calm the waters.” Biden on Monday blamed the Trump administration for Dodd-Frank's recall and urged Congress and regulators to "strengthen banks' rules to reduce the likelihood of such bankruptcies happening again." Press secretary Karine Jean-Pierre said on Thursday that the White House had "bipartisan support over the [Warren]-Porter bill". No Republicans had signed the bill until Friday. Jean-Pierre did not say whether the SVB failure could have been avoided if the Dodd-Frank regulations were not rolled back, but the White House's Federal Deposit Insurance Corp. waived "in the next few days" for SVB depositors. An administration official told The Hill that the White House was looking into the Warren bill and other regulatory changes, but did not say whether Biden supported the Massachusetts Democrat's law. Dozens of Senate and House Democrats have since co-sponsored Warren's bill, but it won't be a start in the GOP-controlled House or face a Republican filibuster in the Senate. "We appreciate their leadership in putting ideas on the table," said the official. “The Obama-Biden Administration, after the financial crisis of 2008, set strict conditions to ensure that such a crisis does not happen again. Unfortunately, the last Administration took some back. As the President said, Congress and regulators should strengthen the rules for larger banks, which is a problem. let it not happen again.” When Warren ran for the Democratic presidential nomination in 2020 before ditching Biden and backing Biden, the difference between his and the president's views on issues like regulating the banks became clear. Focusing on delivering the message that he is a centrist and believes in capitalism, Biden joins the debate scenes with Warren, who has a long history of fighting against bank practices he stubbornly defends as predators. Throughout the Biden administration, Warren has been particularly at odds with Federal Reserve Chairman Jerome Powell, who was appointed by Trump but whom Biden stressed his full confidence. He opposed Powell's candidacy in 2018, warning it would weaken financial regulations at the time, and has since become Powell's harshest critic in the Senate and has scolded him at several hearings. Warren urged Powell this week to withdraw himself from internal scrutiny of the SVB's failure, arguing that his actions "directly contributed" to the situation as the Fed chair signaled that he would support relaxing bank regulations. Powell reportedly pressured him not to include any wording mentioning regulatory failures in a press release jointly issued by the Fed, Department of the Treasury and the FDIC on Sunday night, suggesting he wanted to focus instead on action taken. Warren tweeted that the Fed chair's attempt to shut up government officials was "totally inappropriate". "Congress must take action to correct these mistakes before things get worse." Meanwhile, Warren said that Biden specifically urged Congress to take action after his failure to pass the SVB law. "President Biden has urged Congress to strengthen rules on banks, and I propose legislation to do just that, repealing the core of Trump's banking law," he said on Tuesday. Gotopnews.com