Scant comfort in Congress vote for U.S. bank shares [Reuters (UK)]
Bank of America Corporation (BAC)
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Source: Reuters
Scant comfort in Congress vote for U.S. bank shares | Reuters Reuters Staff 2 Min Read May 23 (Reuters) - U.S. banks were the biggest drag on the Dow Jones and S&P 500 indexes on Wednesday, as global trade tensions overshadowed a much awaited bill that would roll back rules imposed on them after the 2007-2009 financial crisis. Wall Street banks have lobbied long and hard for regulatory easing, including reducing scrutiny and lending restrictions, to boost profits. But the bill passed on Tuesday was a far cry from the repeal that President Donald Trump pledged on the campaign trail, leaving largely untouched the core Dodd-Frank provisions designed to ensure financial stability and other rules most hated by banks and conservative Republicans. In a market worrying chiefly over U.S.-China trade talks, Bank of America, Citigroup and Morgan Stanley fell nearly 2 percent, while JPMorgan and Goldman Sachs slipped more than 1 percent. Regional banks, which managed to eke out a better deal for
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