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Wall Street Fumes at 11th-Hour Rule From Trump Bank Watchdog

  • OCC chief prohibits banks from shunning gun, oil companies
  • Brian Brooks relished fight with industry as he planned exit
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Were history a guide, Brian Brooks would be spending the last days of the Trump administration enjoying the Washington view from his spacious government office and contemplating his next career move. Instead, the chief overseer of the largest U.S. banks is infuriating Wall Street.

As acting head of the Office of the Comptroller of the Currency, Brooks finalized a rule Thursday that would force banks to lend to gun manufacturers, oil drillers and other controversial industries that some have refused to do business with. Brooks, who is stepping down now that he’s finished the regulation, has also angered banks by granting federal banking licenses to technology firms, potentially creating a new flock of competitors.