The vast majority of banks in the US will face less regulation after US Congress rolled back part of the 2010 Dodd-Frank Act, which was enacted by the Obama administration after the financial crisis to prevent another financial meltdown.
German banking giant Deutsche Bank's US operations failed the Fed's second round of stress tests, the qualitative test. Of the big banks tested, 32 out of the 35 passed the test.
The US House has voted to roll back regulations imposed by the Dodd-Frank Act. The new law loosens capital requirements for both major and smaller banks. It marks another marquee pro-business triumph for Donald Trump.
Since the outbreak of the financial crisis in 2007, financial institutions have paid more than Qatar's GDP in fines for their wrongdoings. As investigations and lawsuits continue, that number is expected to grow.
ING, a major Netherlands-based bank, is the latest European bank to announce downsizing plans. Are low interest rates to blame, or is Europe simply overbanked?
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