Bankers Hope for Less Regulation Under Trump

After Donald Trump’s election victory, bankers like Jamie Dimon from JPMorgan Chase are thrilled. Dimon, speaking at the APEC CEO Summit in Peru, said bankers are “dancing in the street” because they expect President-elect Trump to ease regulations that have been tough on them. One big issue is the loan-to-deposit ratio, which has changed from banks lending $100 for every $100 deposited, to now just $65. Dimon thinks banks could still be safe while lending more. Wells Fargo analyst Mike Mayo agrees, saying Trump’s win could mean less strict oversight and more freedom for banks. This could lead to more investment and activities like mergers and acquisitions. Trump has already made changes, like raising the threshold for banks to be considered too big to fail. Dimon supports this, saying too much regulation is hurting the U. S. Trump has even created a task force to reduce government spending and bureaucracy. But Dimon, while appreciating the acknowledgment from Trump, isn’t interested in joining the administration. He’s happy running his own show.