Restricting banking organizations’ lines of business would hurt their ability to compete in a constantly evolving financial system and to serve as sources of strength.
In November 1999, we covered the repeal of a Depression-era banking law in the style of an obituary. It seemed unthinkable that today we'd be talking about a resurrection.
Bank of America CEO Brian Moynihan said the Trump administration would harm U.S. businesses and undermine the financial system if it were to revive a Depression-era law separating consumer and investment banking.
During a meeting with more than a hundred community bankers on Monday, Trump administration officials made it clear they favored a system with different rules for small and big banks.
President Donald Trump said he is actively considering breaking up giant Wall Street banks, giving a push to efforts to revive a Depression-era law separating consumer lending and investment banking.
Data analysis shows that a 21st-century version of the Depression-era limitations on bank activities will do little to meet the goals laid out by its proponents.
Directors take back $75 million more from two former executives and release scathing report on bank's fake accounts scandal; UBS executive sees decade-long wait for transformation.
Observers are divided over whether National Economic Council Director Gary Cohn's support for a modernized Glass-Steagall Act is purely opportunistic or sincere.
The Trump administration’s interest in reinstating barriers between commercial and investment banking is sparking conversations about what such a proposal would entail.
Fed Chair Janet Yellen cast doubt on the administration’s call for a reinstatement of a Depression-era barrier between commercial and investment banking activities.
