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Trump’s Threats to Break Up Banks Aren't Scaring Wall Street Yet

In private, administration aides rarely discuss Glass-Steagall.

By Robert Schmidt, Bloomberg | Updated on May 04, 2017

Despite President Donald Trump’s repeated assertions that he might support breaking up big banks, Wall Street isn’t worried. Yet.

The calm is fueled by signals from administration aides in private meetings with industry executives to discuss rolling back financial rules, a Trump priority. While not making any assurances, the officials aren’t harping on the issue, according to people who have participated in or been briefed on the discussions. In fact, the topic of reviving Glass-Steagall, the 1933 law separating investment and commercial banking, rarely comes up.

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