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Wall Street reveals Trump executive order has significantly reduced federal regulatory pressure

On HALO

3 weeks ago

America’s biggest banks are feeling regulatory relief after President Donald Trump’s executive order to rein in de-banking has had months of impact on the U.S.'s financial systems. The reputational risk standard that pushed regulators to essentially force banks to strip individuals of their accounts for political reasons has been dissolved and is allowing financial institutions more freedom to implement balanced and apolitical internal policies, sources on Wall Street tell Fox Business.Banks expect fewer account closures, Suspicious Activity Reports (SARs) require less paperwork and encourage...