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How Would Banks Handle a Trump Nomination?

American Banker

Friday, February 26, 2016

The advent of Donald Trump as the front-runner for the Republican presidential nomination is forcing banks to take a harder look at the New York businessman and what he might mean for the industry if he wins the White House.

In a typical election year, most bankers support the Republican candidate. That was likely to be particularly true this year, given the industry’s continuing anger over the Dodd-Frank Act and the desire for regulatory relief. But this is far from the typical election β€” and Trump is nothing like the typical nominee…

“He has been hard on Wall Street, he gets the populist message, but at the same he has said that the regulators are running banks and all these new regulations are making banks afraid to lend. That seems to be his big focus β€” how do we get banks to lend again?” said Justin Schardin, associate director of the financial regulatory reform initiative at the Bipartisan Policy Center.

KEYWORDS: 2016, DODD-FRANK ACT, DONALD TRUMP, JUSTIN SCHARDIN