Investors in a popular security were left scratching their heads as the Senate Finance Committee began discussion of its tax proposal on Thursday.

Many holders of banks' trust-preferred securities spent the last eight months betting that the tax-writing committees of Congress would move to eliminate the tax deductibility of the popular securities.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.