Mnuchin Puts Pressure on Banks Over Volcker Rule, Glass-Steagall
by Jesse Hamilton
Steven Mnuchin indicated he might not give Wall Street everything it wants as Treasury Secretary, saying at his confirmation hearing Thursday that he supports the controversial Volcker Rule and that there might be merit in bringing back some version of the Glass-Steagall Act. … Karen Shaw Petrou, managing partner at research firm Federal Financial Analytics, said Mnuchin’s testimony solidified her view that Trump and his advisers are serious about using regulatory agencies and legislation to revamp crisis-era rules.