REUTERS NEXT-US bank executives expect Trump to ease rules, fuel growth

Reuters12-11

REUTERS NEXT-US bank executives expect Trump to ease rules, fuel growth

By Tatiana Bautzer and Nupur Anand

NEW YORK, Dec 11 (Reuters) - President-elect Donald Trump is expected to adopt pro-growth policies that ease U.S. banking and credit card regulations, while spurring deals, industry executives said on a panel at the Reuters NEXT conference in New York on Wednesday.

"I hope the new administration will use this as a point to do a reset," Barclays U.S. consumer Bank CEO Denny Nealon said at Reuters NEXT. "There are some things, like the credit card competition act, that could destabilize the credit cards market and ultimately hurt the consumer," he said, referring to rules from the Biden administration.

The new administration appears to be "more inclined towards deregulation," said Akita Somani, U.S Bancorp's head of inclusive growth strategy. She expects new policies to "set up the industry for growth in terms of being more amenable to mergers and acquisitions and making that a real possibility and not as cumbersome as it is today."

To view the live broadcast of the World Stage go to the Reuters NEXT news page: https://www.reuters.com/world/reuters-next/

(Reporting by Tatiana Bautzer and Nupur Anand, editing by Lananh Nguyen)

((tatiana.bautzer@tr.com; Mob: +1-646-2397968; Reuters Messaging: tatiana.bautzer.thomsonreuters.com@reuters.net))

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