[Wallace T.]

The Supreme Court unanimously decided to punt on this issue, liberals, centrists, and conservatives alike. The Trump administration will likely insist that the OCC and FDIC be headed by people committed to promoting and soundness as opposed to items like the Community Reinvestment Act or anything related to DEI or ESG. As for the Federal Reserve, if they go against the lead of the other two Federal regulators, their member banks will defect to national or state nonmember status. With Trump publicly chastising the chairman of Wells Fargo for debanking conservatives at the World Economic Forum, it will be difficult for state level leaders like Newsom in California, Pritzker in Illinois, or Hochul in New York to push leftist initiatives even on state chartered banks.

[FLT-bird]

The Supreme Court decided 9-0 against broadly defining federal power to regulate banks exclusively and severely limiting state’s power to regulate banks. Its right there in the decision.