After the U.S. Senate Banking Committee hearing with Federal Reserve Vice Chairman Janet Yellen, Vitter said he'll oppose her nomination to be Chairman.
"I'll be voting no on the Yellen nomination. She made it crystal clear today that she would continue the Fed's current policies of continuing "Too Big To Fail" and free money, quantitative easing, with no wind down in sight," Vitter said.
Click here for a video of Vitter questioning Yellen at the hearing.
Vitter along with Sen. Sherrod Brown (D-Ohio) have legislation, Terminating Bailouts for Taxpayer Fairness Act (TBTF Act), which would eliminate government subsidies to megabanks, ensuring financial institutions have adequate capital to protect against losses. The TBTF Act would additionally set reasonable capital standards that reflect the size and complexity of the institution and provide regulatory relief for community banks.