The future under Trump:
Could be good, bad, or a bit of both

BankInno topA few weeks ago I wrote about the future of fintech under the Trump administration. Since then, a flood of articles has burst forth about Trump’s taken and threatened actions in the financial services arena. The consensus seems to be: Could be good, could be bad, or some of both.

Yeah, I’d say that about covers the spectrum.

For a good start on the subject, I commend you to this piece by my friend Philip Ryan. Here’s his opening:

The election of Donald Trump has brought uncertainty and relief to bankers in seemingly equal measure … banks needed just 222 hours to comply with new regulations, down from 809 the previous quarter, a decline of 73%. The incremental cost of new regulations during the quarter was $10,360, down from $53,046 the quarter prior.

But, the article goes on to warn

“… against optimism about repealing regulations under Trump, particularly the huge and complex Dodd-Frank Act.”

To do justice to explaining why, I would end up quoting Ryan’s entire piece. So tell you what: Please click here and read the originalNext week, I’ll summarize views from various perspectives within the financial services industry. 

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