US reportedly plans to slash bank rules imposed to prevent 2008-style crash
by Kalyeena Makortoff Banking correspondent from Economics | The Guardian on (#6X9Y5)
Watchdogs could cut capital rules as Trump's deregulation drive opens door to rollback of post-crisis protections
US watchdogs are reportedly planning to slash capital rules for banks designed to prevent another 2008-style crash, as Donald Trump's deregulation drive opens the door to the biggest rollback of post-crisis protections in more than a decade.
The move follows heavy lobbying by the banking industry, with lenders such as JP Morgan and Goldman Sachs having long complained that competition and lending have been hindered by burdensome rules governing the assets they must hold versus their liabilities.
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