President Donald Trump said Monday he is “looking at” breaking up the largest Wall Street banks.
“I’m looking at that right now,” Trump told Bloomberg News. “There’s some people that want to go back to the old system, right? So we’re going to look at that.”
During the campaign, Trump said he supported bringing back a version of the 1933 Glass-Steagall law, which prohibited banks from doing both consumer lending and investment banking.
A bipartisan group of senators, led by Democrat Elizabeth Warren and Republican John McCain, has called for a revival of the law.
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