Emboldened by Trump, Banks Push to Throw Off Old Rule Constraints

Emboldened by Trump, Banks Push to Throw Off Old Rule Constraints
FILE PHOTO: U.S. Representative Jeb Hensarling (R-TX) speaks to members of the media after meeting with U.S. President Elect Donald Trump at Trump Tower in the Manhattan borough of New York City on Nov. 17, 2016. REUTERS/Mike Segar/File Photo
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Emboldened by President Donald Trump’s pledge to loosen laws introduced following the 2007-2009 global financial crisis, U.S. banks are pushing to scrap or revise more than a dozen other lesser-known rules they say are outdated and costly, and hurt economic growth.

Many would have been revised a decade ago, but changes were shelved during the financial crisis and the fierce political battle over the 2010 Dodd-Frank Act that imposed a new layer of restrictions.