Here’s what a Trump or Biden presidency would mean for banking
By Sarah Foster
President Donald Trump has spent much of his time in office rolling back Obama-era banking regulations that cracked down on firms in the years since the financial crisis, policies that the industry has long regarded as costly and overly burdensome….“The financial sector would be a good deal safer, and borrowers would be much better protected. But when banks are tightly regulated, nonbanks step in,” says Karen Petrou, co-founder and managing partner of Federal Financial Analytics. “If you get the Fed in the business of taking deposits, you better figure out who’s going to make loans. Banks won’t be doing it anymore.”