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Mnuchin: new Glass-Steagall would not separate banks

US treasury secretary’s stance on banking reform appears to contrast with that of Donald Trump

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Steven Mnuchin: grilled on the administration’s view of the Glass-Steagall Act

The US treasury secretary has said President Donald Trump’s “21st century” version of the Glass-Steagall Act will not separate commercial banks from their investment counterparts if the regulation is reinstated, despite such a separation being a core principle of the original act.

Appearing before the Senate Committee on Banking, Housing and Urban Affairs for the first time on May 18, Steven

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