Regulators Move to Ease Post-Crisis Oversight of Wall Street

WASHINGTON — Federal regulators moved on Wednesday to ease oversight of the country’s largest banks and other financial firms, continuing a push by the Trump administration to reverse rules that were put in place following the 2008 financial crisis. The Federal Reserve said it would adjust the structure of its annual “stress tests,” which measure the ability of leading banks to withstand a potential economic or financial storm. Taken together, the announcements on Wednesday represented a big win for the financial industry, which has been arguing since the Obama administration that a flurry of regulations imposed following the financial crisis were onerous and made it harder for banks to make loans and support economic growth.

Source: www.nytimes.com