Fed Discount Window Needs 'More Work' to Lift Bank Participation
U.S. Treasury Secretary Yellen warns: do not interfere with Bank regulation! Trump also has the latest developments.
On Friday local time, USA Treasury Secretary Yellen warned the incoming Trump administration not to interfere with Banks regulation. She stated that, given the history of bank failures leading to financial crises, aggressive measures to disrupt necessary regulation should not be taken.
Trump's advisors are exploring the integration or elimination of Banks regulatory Institutions.
As Wall Street anticipates reduced corporate regulation under the incoming president Trump, his transition team is exploring ways to scale down, consolidate, or even eliminate top Banks regulatory Institutions.
Trump's advisors are seeking to relax Banks regulations, even to the point of abolishing the FDIC.
In the past, the USA has never closed any major cabinet-level Institutions, especially entities like the FDIC. Some analyses indicate that any such reform plans could lead to massive job cuts.
Express News | U.S. media: The Trump team is considering abolishing the Federal Deposit Insurance Corporation.
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