Economics
Cohn Says Separating Banks' Business Lines Would Boost Lending
- White House economic advisor calls for new Glass-Steagall Act
- Fed appointments will help roll back financial rules, he says
Cohn Says White House Committed to Tax Overhaul This Year
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White House economic adviser Gary Cohn said Friday that separating Wall Street’s investment and retail banking operations would boost lending by eliminating the need for burdensome regulations.
Cohn, a former Goldman Sachs Group Inc. executive, said he supports President Donald Trump’s call for a new version of the Depression-era Glass-Steagall Act, which kept bricks-and-mortar lending separate from investment banking.