‘Dancing in the street’: Some Wall Street banks are triumphant heading into Trump era
Trump hasn’t yet returned to office, and the biggest banks keep notching wins.
🔸Hard-fought rules to require the biggest banks to boost financial buffers that protect against losses could be substantially watered down.
🔸A separate plan to force banks to lower fees when consumers use debit cards will take more time to complete,
delaying a potential hit to banks’ bottom line.
🎈And some of the biggest antagonists against Wall Street serving in the Biden administration,
-- such as #Rohit #Chopra at the Consumer Financial Protection Bureau (CFPB)
and the Securities and Exchange Commission’s #Gary #Gensler,
will be out of government on Day 1 of the Trump administration.
⚠️“A lot of bankers, they’re like dancing in the street,”
said #Jamie #Dimon, the chief executive of JPMorgan Chase & Co.,
the biggest U.S. bank by assets, at a conference last week in Peru.
“Years and years of regulations” have curtailed access to loans and other forms of credit, he said.
https://www.washingtonpost.com/business/2024/11/22/wall-street-notches-wins-after-trump-victory/