US senator urges Wall Street to reject 'troubling' paid early access to Trump posts

July 21 (Reuters) - A top Democratic U.S. senator on Tuesday urged banks and trading firms to shun a new product offering early access to posts on President Donald Trump's Truth Social platform, warning it creates a "very troubling form of information asymmetry" for government policies.

Earlier this month, TMTG unveiled a paid, licensed data feed that will give banks and trading firms "the fastest" access to posts from influential Truth Social accounts, including Trump's, whose posts often move global markets.

Senator Mark Warner, the senior Democrat on the Senate Intelligence Committee, urged the heads of the nation's top financial industry trade groups to publicly disavow the arrangement, arguing it would allow Trump to personally profit from government policy announcements.

"I urge you to make clear that the financial services industry will not legitimize an arrangement that sells privileged access to market-moving presidential communications, especially for the president’s personal financial benefit," he wrote in a letter sent to the heads of six major financial trade groups. Warner is also a member of the Senate Banking Committee.