The recent confirmation hearing for Treasury Secretary nominee Steven Mnuchin as well as his written answers to questions after the hearing revealed much about his views and intentions for the banking industry if confirmed.
This Thanksgiving, the chance of President-elect Trump’s victory dividing some tables is high. By contrast, banks large and small are now fairly united in their optimism for the new administration.The New York Times recently reported that while small banks only first cheered Trump’s win, big banks have followed. Both are benefiting from expectations that regulations will be rolled back on aspects ranging from banks fees to lending rules. They’re also looking forward to potentially higher interest rates under the proposed stimulus package. But, as the Times points out, the President-elect’s position on the banking industry has been conflicting at times and details of his plans aren’t yet crystal clear.