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Morning Agenda: A Nervous Time for Banks

May 02, 2017 - The New York Times

“I’m looking at that right now.”

President Trump’s words on Monday about creating a modern-day Glass-Steagall Act rippled across the finance industry.

The declaration shouldn’t have been a surprise. Gary D. Cohn, the president’s chief economic adviser, has been promoting the idea of bringing back the legislation, which would separate investment and consumer banks.

But Mr. Trump’s comments, in a Bloomberg interview, came just as Treasure Secretary Steven Mnuchin ha...