08.08.25
Trump Shakes up Wall Street With Orders on 401(k)s, ‘Debanking’
by: Dylan Tokar; Miriam Gottfried
President Trump signed two executive orders last week that will reshape finance. One directs regulators to ease access for 401(k) savers to private equity, cryptocurrency and other private assets, a long-sought goal for Wall Street firms. Supporters cite potential for higher returns, while critics warn of high fees, liquidity issues and litigation risk. The second order targets “debanking,” instructing regulators to prevent banks from denying services based on political or religious grounds and to remove “reputational risk” as a basis for account closures. Big banks have faced Republican criticism over alleged discrimination, while blaming regulatory pressure for decisions to drop certain customers.
Read the full article on The Wall Street Journal