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July 19, 2016

Politico Pro: Reviving Glass-Steagall seen as unlikely despite Trump endorsement

“The Republican Party platform calls for the reinstatement of the Glass-Steagall law, but the idea is driven more by politics than policy and probably won’t get very far, financial industry observers say.

“Donald Trump is backing the revival of the Depression-era law, which separated the functions of commercial and investment banking, and pushed for its inclusion in the platform.”

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“The American people shouldn’t be fooled. Donald Trump is no Bernie Sanders or Elizabeth Warren,” Better Markets President and CEO Dennis Kelleher said in a statement. “A Glass-Steagall law will only impact a few banks, while gutting the broad Dodd-Frank law will deregulate many of the most dangerous too-big-to-fail financial titans.”

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To read the full Politico Pro article by Victoria Guida click here.

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