The oversight of US banks could be in for some big changes under Trump

Published On Dec 14, 2024, 9:00 AM

The article discusses potential changes in the regulation of US banks under Donald Trump's administration. Key advisers are advocating for significant reforms, including the elimination of the Consumer Financial Protection Bureau (CFPB) and discussions around abolishing the Federal Deposit Insurance Corporation (FDIC). While these ideas indicate a desire for lighter regulations and reduced scrutiny on banks, substantial changes would require Congressional approval, making their realization uncertain. Nonetheless, this shift in regulatory philosophy may appeal to certain sectors within the financial industry, particularly for regional banks which could experience a more favorable regulatory environment.