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Senator Tim Scott launched a presidential exploratory committee on Wednesday, taking a key step toward running for president in 2024 and challenging former President Donald Trump for the party's nomination. Scott, 57, on Wednesday will visit Iowa, the lead-off state in the Republican presidential nominating process, before heading to New Hampshire on Thursday and his home state of South Carolina on Friday. Former South Carolina Governor Nikki Haley and activist investor Vivek Ramaswamy have formally launched campaigns seeking the Republican 2024 nomination. Florida Governor Ron DeSantis and former Vice President Mike Pence are also expected to run, though neither have announced their candidacy. Reporting by Gram Slattery; Kanishka Singh and Susan heavey; Editing by Scott Malone, Gerry Doyle and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Senator Tim Scott plans to launch a presidential exploratory committee on Wednesday, two sources with knowledge of the matter said, a key step toward running for president in 2024. On Wednesday, Scott will be in Iowa, the lead-off state in the Republican presidential nominating process. Scott often called out Trump during his presidency over racially charged comments and blocked several of his judicial nominees for such reasons. Scott garners no more than 2% support in almost all polls, though supporters argue that will change as he becomes a better-known national figure. Reporting by Gram Slattery and Kanishka Singh; Editing by Scott Malone and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Senator Tim Scott plans to launch a presidential exploratory committee on Wednesday, a key step toward running for president in 2024, The Post and Courier newspaper in South Carolina reported late on Tuesday, citing sources. On Wednesday, Scott will be in Iowa, the lead-off state in the Republican presidential nominating process. He will then travel to New Hampshire on Thursday before coming back to his home state of South Carolina on Friday ahead of a local summit in Charleston, the newspaper said. Scott often called out Trump during his presidency over racially charged comments and blocked several of his judicial nominees for such reasons. Republicans who have formally launched campaigns for the party's 2024 nomination include former South Carolina Governor Nikki Haley, activist investor Vivek Ramaswamy and former Arkansas Governor Asa Hutchinson.

☆ Republican Sen. Tim Scott launches 2024 presidential exploratory committee
▼ + stars: | 2023-04-12 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Sen. Tim Scott of South Carolina launched an exploratory committee for a 2024 presidential campaign on Wednesday, taking a major step toward a Republican primary arena that former President Donald Trump has dominated so far. "This is personal to me," Scott, 57, said in a video announcing the committee. Scott's move toward a White House run puts him on track to collide with fellow South Carolina Republican Nikki Haley, the former governor and United Nations ambassador who launched her own presidential campaign in February. Trump has dominated early Republican primary polling, while DeSantis has usually held the second spot. The senator, who has been touring key primary states, is planning another swing this week through Iowa, New Hampshire and South Carolina, his committee said.

☆ Tim Scott, prominent Black conservative, is one step closer to joining other Republicans in challenging Trump for the 2024 nomination
▼ + stars: | 2023-04-12 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +6 min

"Our country is once again being tested," Scott, the only Black Republican in the Senate, said in a 3-minute video announcement. Once he does so, he'll be the fourth Republican to enter the Republican primary contest against former President Donald Trump. Nikki Haley of South Carolina announced that she was appointing then-Rep. Tim Scott to the Senate on December 17, 2012. Haley and Scott could potentially be competitors to win the 2024 GOP presidential nomination. Haley, who was South Carolina governor at the time, appointed Scott to the seat in 2013 after then-Sen. Jim DeMint resigned.

☆ Tim Scott is the most intriguing GOP presidential hopeful most Republicans haven't heard of
▼ + stars: | 2023-04-12 | by ( Brent D. Griffiths | Warren Rojas | ) www.businessinsider.com time to read: +8 min

South Carolina Sen. Tim Scott is far from well-known by Republican voters. But if he runs for president, Scott would be well positioned to break out if either Trump or DeSantis falter. "I hope he is considering jumping into the race," Iowa Sen. Joni Ernst recently told Insider while on her way back to her Senate office. But more than just his colleagues, Republican voters may also be just as effusive. It's difficult to find polling on Scott's national favorability, but a recent Monmouth University poll of self-identified Republican voters showed significant promise.

☆ GOP's early 2024 pickle: Support 1 of 3 minority candidates for president or stick with the aggrieved white guy who could be a convicted felon by Election Day
▼ + stars: | 2023-04-12 | by ( Warren Rojas | ) www.businessinsider.com time to read: +5 min

Republican Sen. Tim Scott has inched closer to challenging Donald Trump in 2024. Current polling casts Trump, who is battling multiple investigations, as the odds-on favorite. Market research firm Morning Consult shows both Scott and Ramaswamy polling at only 1%, and Haley polling at 4%. And that's after he was arraigned on 34 counts of falsifying business records, charges Trump and his House GOP defenders assert are politically motivated. "Our divisions run deep, and the threat to our future is real," Scott said of the existential crisis at hand.

☆ Republicans set first 2024 U.S. primary debate for August in Milwaukee
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, April 12 (Reuters) - The Republican Party plans to hold its first 2024 U.S. presidential primary debate in August in Milwaukee, Republican National Committee Chairwoman Ronna McDaniel said on Wednesday. The debate will be broadcast on Fox News, she said in an interview with the cable television channel. The RNC will also "get away from Big Tech" by arranging to livestream the debate on Rumble, an online video platform, McDaniel said. They will also partner with the Young America's Foundation, led by former Wisconsin Governor Scott Walker, to help spread their message to younger voters, she said. Senator Tim Scott, who launched a presidential exploratory committee on Wednesday; and former Vice President Mike Pence.

☆ Opinion: Don't count DeSantis out yet
▼ + stars: | 2023-04-11 | by ( Patrick T. Brown | ) edition.cnn.com time to read: +7 min

A third Trump presidential nomination would indicate that Republican primary voters may prefer style over substance. But if they are serious about not just making liberals mad but advancing actual policy, GOP voters should consider other names, starting with the Florida governor. Recognizing key figures and institutions on the right in this way suggests a DeSantis administration would be serious about delivering on conservative principles. In short, DeSantis offers Republicans a glimpse into what a successful conservative approach to governing could look like. If GOP voters decide their primary operating principle is to enrage the media and “own the libs,” they will nominate Trump.

☆ Stunning endorsement: DeSantis ally Rep. Byron Donalds backs Trump for president in 2024
▼ + stars: | 2023-04-06 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +4 min

Byron Donalds, who has said he'd be interested in becoming governor of Florida, has endorsed Trump. Ron DeSantis, has endorsed Donald Trump for president in 2024. "President Trump is the leader in the clubhouse right now," he said. He added, however, that he thought DeSantis could beat Trump in a primary. "The current legal problems have rallied more Republican voters around Donald Trump," Donalds said.

☆ Trump rallies supporters in campaign-style speech after first-ever arraignment of an ex-president: 'The only crime that I've committed is to fiercely defend our nation'
▼ + stars: | 2023-04-05 | by ( Kimberly Leonard | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

"The only crime that I've committed is to fiercely defend our nation," he added. "The only crime that I've committed is to fiercely defend our nation," Trump said, addressing each of the pending investigations against him, in addition to the charges brought in New York. The rambling, 27-minute speech, Trump called the charges against him "a persecution, not an investigation" and evidence the country "is going to hell," adding that the charges should be dropped immediately. The arraignment on Tuesday "solidified" a Trump win in 2024, MyPillow CEO and Trump ally Mike Lindell told Insider ahead of the Mar-a-Lago speech. He accused the Manhattan DA of having political motivations because Trump didn't "go away" after the 2020 election.

☆ Mike Pence gambled his career to become Trump's successor. Now he can't even find a lane to compete against his former boss.
▼ + stars: | 2023-04-01 | by ( Madison Hall | ) www.businessinsider.com time to read: +6 min

Mike Pence gambled his future to become President Donald Trump's running mate and vice president. Two years after leaving office, it appears all for naught, as he can't seem to find a lane to compete against his former boss. This, in part, led to some Trump supporters storming the Capitol whilst chanting "hang Mike Pence." But despite this, Monmouth University polling from March 2023 shows him lagging behind other prospective candidates, like DeSantis and Trump, in favorability polls among evangelical Republicans. According to Morning Consult's surveying, Pence once again received the second-most "unfavorable" polling behind only former Rep. Liz Cheney.

☆ Trump faces a potential indictment by the Manhattan DA's office. His GOP opponents are far behind him in the 2024 presidential race, and falling further.
▼ + stars: | 2023-03-29 | by ( John L. Dorman | ) www.businessinsider.com time to read: +7 min

Former President Trump remains at the top of the 2024 GOP pack as he faces several criminal probes. Trump decried a potential indictment by the Manhattan District Attorney's office during a rally in Waco, Texas, on March 25, 2023. Brandon Bell/Getty ImagesTrump versus the worldDuring the 2016 GOP presidential primaries, Trump's political brand was built on rejecting the political establishment. Ron DeSantis of Florida is among several high-profile Republicans who may challenge Trump for the 2024 GOP presidential nomination. In 2020, Trump faced near-unanimous support for a second term, with the campaigns of former Rep. Mark Sanford of South Carolina, former Gov.

☆ Premarket stocks: How big of a problem is greedflation?
▼ + stars: | 2023-03-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

“Executives at SVB and Signature [Bank] took wild risks and must be held accountable for exploding their banks,” Warren said. Republican Senators say the Fed’s focus on climate change led to banking turmoilRepublican Senators repeatedly insinuated on Tuesday that the recent US banking turmoil came as a result of the Federal Reserve’s focus on climate change. In his opening statement, Republican Sen. Tim Scott of South Carolina, the ranking member of the banking committee, called the Fed’s focus on climate change a waste of time. It’s what our supervisors do all the time.”In an interview with Montana Public Radio in 2014, Daines said that “the jury’s still out” on whether climate change is real. The public reasonably expects supervisors to require that banks understand, and appropriately manage, their material risks, including the financial risks of climate change.”

☆ CNBC Daily Open: After SVB collapse, stricter rules coming for banks?
▼ + stars: | 2023-03-29 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The rise in yields suggests traders are growing confident the banking turmoil is subsiding, and they're turning their attention back to inflation. In a bizarre way, even if that's bad news for inflation, that's probably good news for everyone who's been consumed by banking fears in recent days. Subscribe here to get this report sent directly to your inbox each morning before markets open.

A pedestrian walks past the Federal Reserve Headquarters on March 21 in Washington, DC. Daines also accused the Federal Reserve Bank of San Francisco of prioritizing addressing climate change over the risks presented by higher interest rates. In an interview with Montana Public Radio in 2014, Daines said that "the jury’s still out" on whether climate change is real. These responsibilities are tightly linked to our responsibilities for bank supervision. The public reasonably expects supervisors to require that banks understand, and appropriately manage, their material risks, including the financial risks of climate change.”

WASHINGTON, March 28 (Reuters) - Lawmakers are expected to put top U.S. bank regulators on the defensive over the unexpected failures of regional lenders Silicon Valley Bank and Signature Bank when they testify before Congress on Tuesday. Regulators have vowed to review their rules and procedures after the twin failures while insisting the overall system remains sound. Tuesday's hearing at the Senate Banking Committee will give lawmakers the chance to press watchdogs on what went wrong on their watch, and push preferred policy prescriptions. They just didn't," said Sen. Tim Scott of South Carolina, the top Republican on the Senate Banking Committee, at a banking industry conference last week. Some Democrats, including major bank critic Senator Elizabeth Warren of Massachusetts, have also argued a 2018 bank deregulation law is to blame.

☆ Georgia Republican Gov. Brian Kemp says he's not running for the White House in 2024, hasn't heard from Trump, and will keep 'an open mind' on the GOP presidential field
▼ + stars: | 2023-03-25 | by ( John L. Dorman | ) www.businessinsider.com time to read: +2 min

Georgia Gov. Brian Kemp told The Wall Street Journal he won't run for the White House in 2024. Kemp, who was reelected to a second term last fall, said he was keeping "an open mind" on the GOP field. Kemp's endorsement in swing state Georgia could be a boon to the eventual Republican nominee. So I'm kind of like everybody else, I'm just seeing how things are playing out and keeping an open mind," he added.

☆ Key lawmakers say upcoming hearings on bank failures aim to boost U.S. confidence in banking sector
▼ + stars: | 2023-03-24 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

WASHINGTON — A bipartisan group of lawmakers overseeing the recent turmoil in the banking sector said Wednesday that they aim to increase Americans' confidence in the banking industry after Silicon Valley Bank and Signature Bank collapsed over the last two weeks. Regulators and lawmakers are also trying to contain further damage to the economy and reinforce confidence in the banking system. Sen. Tim Scott, a South Carolina Republican and ranking member of the Senate Banking Committee, also said writing new laws should take a back seat at the hearings to investigating what happened. We can't legislate that either in the financial sector or among financial institutions management, nor with the regulators." Sen. Sherrod Brown, an Ohio Democrat and chairman of Senate Banking Committee, compared the SVB collapse to the devastating train crash in East Palestine, Ohio.

☆ Senators call on former Silicon Valley Bank, Signature Bank CEOs to testify
▼ + stars: | 2023-03-23 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — Bipartisan leaders of a Senate committee investigating the failures of Silicon Valley Bank and Signature Bank called Thursday for both institutions' former CEOs to testify about the collapses that have sparked fears about broader economic damage. Ex-SVB CEO Gregory Becker and former Signature CEO Joseph DePaolo "must answer for" their banks' "downfall," wrote Sens. Sherrod Brown, D-Ohio, and Tim Scott, R-S.C., in letters to the former executives. Brown and Scott are the chairman and ranking member, respectively, of the Senate Banking, Housing and Urban Affairs Committee. Brown and Scott urged the two former executives to answer the panel's questions "at a future date."

☆ Trump's legal troubles are threatening to upend the 2024 GOP race, and he's not even charged
▼ + stars: | 2023-03-22 | by ( Kimberly Leonard | Oma Seddiq | ) www.businessinsider.com time to read: +14 min

Former President Donald Trump faces possible criminal charges as he's running for president. "If it's a circus, there's only one ringmaster and that's Trump," said GOP pollster B.J. Operatives thinking of ways to land punches on Trump say GOP primary candidates could argue that he would lose the general election because of his legal troubles. Political insiders widely concede that a potential indictment — and how Trump responds — could still backfire on GOP challengers and strengthen Trump. While the circumstances surrounding the 2024 primary are uncharted territory, polling shows a cohort of GOP voters has grown weary of Trump and is seeking an alternative.

WASHINGTON, March 16 (Reuters) - The U.S. banking system remains sound and Americans can feel confident that their deposits are safe, Treasury Secretary Janet Yellen said on Thursday, but she denied that emergency actions after two large bank failures mean that a blanket government guarantee now existed for all deposits. "I can reassure the members of the committee that our banking system is sound, and that Americans can feel confident that their deposits will be there when they need them," Yellen said. More than $9.2 trillion of U.S. bank deposits were uninsured at the end of last year, accounting for more than 40% of all deposits, according to U.S. central bank data. Those uninsured deposits are not distributed evenly across the country, FDIC data shows. She also noted the high level of uninsured deposits at Silicon Valley as an aggravating factor.

☆ After Ron Desantis got testy over a reporter’s question about Ukraine, he told Tucker Carlson the war should not be a US priority, moving closer to Trump’s position
▼ + stars: | 2023-03-14 | by ( Kelsey Vlamis | Hannah Getahun | Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Ron DeSantis has previously avoided taking a hard stance on the US's Ukraine policy. On Monday, DeSantis said in a statement the Ukraine war is not of "vital national interest." The US has since provided Ukraine with billions of dollars of military aid, which has had bipartisan support. For Biden and his European allies, support for Ukraine is framed as a vital part of protecting the sovereignty of the country. Prominent House Republicans Rep. Mike McCaul and Rep. Mike Turner have even called on Biden to increase existing support for Ukraine.

☆ Biden vows new bank rules after SVB collapse, cites Trump rollback
▼ + stars: | 2023-03-13 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +4 min

"Americans can have confidence that the banking system is safe. The managers of the banks will be fired, Biden noted, and investors will lose money. Biden also promised new regulation after the biggest U.S. bank failure since the 2008 financial crisis. The U.S. Federal Deposit Insurance Corporation on Monday said it had transferred all Silicon Valley Bank (SIVB.O) deposits to a newly created bridge bank and that all depositors would have access to their money beginning Monday morning. Silicon Valley bank had $209 billion in assets at the end of last year.

☆ Biden to defend U.S. banking system after SVB, Signature collapse
▼ + stars: | 2023-03-13 | by ( Simon Lewis | ) www.reuters.com time to read: +4 min

WASHINGTON, March 13 (Reuters) - President Joe Biden will on Monday address a banking crisis that led U.S. regulators to step in with a series of emergency measures after the collapses of Silicon Valley Bank (SIVB.O) and Signature Bank <SBNY.O> threatened to trigger a broader crisis. Biden on Sunday hinted at new regulation of big banks after the biggest U.S. bank failure since the 2008 financial crisis, but faces a divided Congress unlikely to approve tougher new rules. Biden will give remarks on Monday morning on additional plans to keep the economy on track amid a crisis sparked by the sudden collapse of Silicon Valley Bank (SVB) last week, he added. POTENTIAL BANK CHANGESIn coming days, rules introduced after U.S. banks sparked a global financial crisis in 2008 with aggressive mortgage lending may come under the spotlight. Silicon Valley bank had $209 billion in assets at the end of last year.

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