Dancing in the streets with bankers. I'm David Brancaccio stock. Dollar and cryptocurrency buyers may have

calmed down from their initial bullishness on Donald Trump's re-election, but to hear the head of the

biggest bank of the mall describe it, bankers are in a party mood. This is from Jamie Diamond at

J.P. Morgan Chase speaking yesterday at a global forum in Peru, where

leaders of major economies have gathered. Marketplaces Nova Safo is here with more.

Well, David, major banks have had a lot of complaints about the Biden administration's approach

to financial regulation and oversight, and yes, Jamie Diamond has especially been a vocal critic

of newly proposed capital requirements.

Now, in plain language, that's the amount of cash banks are required to hold for emergencies.

Now, it is conjecture whether Donald Trump's appointees might want to or be able to loosen those

requirements. But here's part of what Diamond had to say yesterday at the Asia-Pacific Economic Cooperation

Summit.

You know, a lot of bankers, they're like dancing in the street because, you know, they've had

successive years and years of regulations, a lot of which stymied credit, you know,

and so I'm not, and you could have kept the banks equally safe, but had them do more credit.

That's been a persistent complaint, and Diamond said perhaps the U.S. economy will grow faster

if there's more lending and if the Trump administration loosens regulations, David.

And the President-elect is nominating new leaders at nearly every agency, including places

that oversee the financial industry.

Yeah, in fact, an alphabet soup of agencies, the SEC, the FTC, the CFPB.

And among the Biden era policies that could change or get halted are rules restricting

credit card fees, more scrutiny of mergers, a host of other things, even open banking reforms,

...