Shutdown is starting to hurt Trump’s financial deregulation agenda
Administration’s plans to ease bank rules, overhaul corporate governance and boost financial innovation are delayed
Washington — The US government shutdown over President Donald Trump’s call for Congress to fund a wall he promised to build on the US-Mexican border is threatening another campaign pledge to make rules easier to navigate for banks and corporations. The partial shutdown, sparked by a standoff between Democrats and Republicans over how to address Trump’s demand, is already the longest, entering its 27th day on Thursday with no signs of a resolution. The Trump administration has outlined plans to ease bank rules, overhaul corporate governance, and boost financial innovation, sparking hopes among executives that they would already start to feel the benefits in 2019. Yet with Democrats now in control of the House of Representatives and the 2020 presidential campaign expected to stymie policymaking, industry lobbyists worry the shutdown will further limit the narrow window for the new rules to kick in. Of particular concern is the fate of rules being penned by regulators to implement chan...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.