Election 2024
Election Preview
Analysts are watching both Vice President Kamala Harris and former President Donald Trump for potential regulatory picks, as well as how strongly Trump advocates for policies like tariffs and deportations that could impact the economy, inflation and bankers' prospects.
Markets welcomed the news of a second Trump presidency.
"If you had the Trump trade on for the last six weeks, it's been outstanding," said Ed Al-Hussainy, a rates strategist at Columbia Threadneedle Investment. "The question is these winning runs don't last forever and is this a good time to take profits."
While the message from investors is broadly positive, there is also a stern warning in the market gyrations.
The surge in Treasury yields underscores concerns that Trump's policies will swell an already bloated budget deficit and reignite an inflation spiral that the Federal Reserve was only just finally quelling in the wake of the pandemic.
This year saw the impact of Donald Trump's return to the White House, the first rate cut from the Federal Reserve in roughly four years and more.
Multimedia
The failures of Silicon Valley Bank, Signature Bank and First Republic shook the banking system and sparked renewed debate among regulators and lawmakers about deposit insurance, bank capital and liquidity rules and resolvability. One year later, some of those policy debates have fallen by the wayside while others have been amplified.
Several crypto-friendly voices join the Senate Banking Committee from Nebraska and Ohio, while Democrats leave a banking policy expert off the House Financial Services Committee.
The top executives at some of the nation's largest banks spoke Tuesday about their expectations for the second Trump administration. Deregulation, capital rules, tariffs and inflation were all prominent topics.
Kelly Loeffer would lead an agency that is critically important to community banks, which make tens of billions of dollars in loans annually under its largest loan program.
The Consumer Financial Protection Bureau has long been a target for conservative ire, but dismantling it would require Congress' cooperation.
Enforcement actions from the Consumer Financial Protection Bureau still fresh in the mind of financial leaders have renewed hopes that a second Trump administration will favorably alter the agency's future.
The president-elect had previously said he would consider JPMorgan Chase CEO Jamie Dimon for Treasury secretary but later disavowed that statement.
-
The Arkansas Republican, who could be the next chairman of the top banking panel in the House, could find some areas of agreement with Democratic Senate Banking Committee ranking member Elizabeth Warren on issues like failed bank resolution reform.
November 14
-
President-elect Donald Trump beat banker predictions to surpass Vice President Kamala Harris on his way back to the White House, leaving many surprised but hopeful for a relaxed regulatory environment.
November 12
-
Homeowners across the nation could realize savings from as little as $20 per year to having their bill wiped out entirely.
November 12
-
A digital dollar is likely on the way out in favor of non-government crypto, but those betting for fewer restrictions on fees and less antitrust litigation will likely be disappointed.
November 8
-
During Donald Trump's last presidency, the massive merger that created Truist shook up the industry. What's coming this time around?
November 8
