Due to its power, and the sheer size and scope of its financial assets and activities, BlackRock has been called the world's largest shadow bank.[124][2] In 2020, U.S. Representatives Katie Porter and Jesús "Chuy" García proposed a U.S. House bill aiming to restrain BlackRock and other so-called shadow banks.[3] On March 4, 2021, U.S. Senator Elizabeth Warren suggested that BlackRock should be designated "too big to fail".[125]