May
4
A few weeks ago I wrote about the future of fintech under the Trump administration. Since then, a flood of articles has burst forth about Trump’s taken and threatened actions in the financial services arena. The consensus seems to be: Could be good, could be bad, or some of both.
Yeah, I’d say that about covers the spectrum.
For a good start on the subject, I commend you to this piece by my friend Philip Ryan. Here’s his opening:
The election of Donald Trump has brought uncertainty and relief to bankers in seemingly equal measure … banks needed just 222 hours to comply with new regulations, down from 809 the previous quarter, a decline of 73%. The incremental cost of new regulations during the quarter was $10,360, down from $53,046 the quarter prior.
But, the article goes on to warn
“… against optimism about repealing regulations under Trump, particularly the huge and complex Dodd-Frank Act.”
To do justice to explaining why, I would end up quoting Ryan’s entire piece. So tell you what: Please click here and read the original. Next week, I’ll summarize views from various perspectives within the financial services industry.