Low-income, minority, and other underserved populations have been excluded from the banking system for generations. DEI efforts at the banking agencies worked to improve that access and strengthen the economy for all Americans. Losing these offices, staff, and reports will lead to less economic growth and drive underserved populations to more costly and discriminatory financial service providers, such as check cashers and payday lenders.

President Trump ordered that DEI offices be closed, staff fired, and Dodd-Frank reports be removed from public websites.

Federal Reserve leaves the Network for Greening the Financial System (NGFS)

Stress tests are critical to the oversight of the largest, systemically important banks. Although the decision to make stress tests more transparent sounds like a good thing, it is actually making them weaker and less informative. When the models and tests are published, they become less robust. The test results give a false sense of security and allow for capital ejection to shareholders and bank executives, which leaves less protection to be used in a crisis and more liability for taxpayers.