His proposed financial regulations were deemed “disastrous" by a Republican senator.

Ahead of Donald Trump taking office, Federal Reserve's top banking regulator has resigned from his role as vice chair of supervision.

JPMorgan Chase's annual profit rose to a record as its dealmakers and traders reaped a windfall from rebounding markets in the fourth quarter, it reported on Wednesday.

Emboldened by a friendlier incoming Trump administration and their success last year in weakening draft capital hikes, big U.S. banks plan to push to overhaul other U.S. capital rules, according to industry executives.

Donald Trump is expected to elevate Michelle Bowman, a fifth-generation community banker and current Fed governor, as the government’s most influential banking regulator.

Banks' Q4 earnings could positively impact economy and set tone for 2025. Investors bet big on financials, hoping for regulatory tailwinds.

The Bank of England on Friday said it will delay key rules on bank capital for a year while the U.S. decides what to do, a sign of how the incoming Trump administration will impact financial regulation throughout the globe.

Citing concerns about going outside its statutory mandate, the Federal Reserve Board of Governors voted to leave the Network of Central Banks and Supervisors for Greening the Financial System.

Profits at some of the biggest U.S. lenders rose in the fourth quarter as dealmaking picked up and trading was boosted by strong equity markets, sparking a rally in banking stocks on Wednesday. Equity markets have surged,

Shares among the banks that reported earnings on Wednesday rose solidly, with Goldman Sachs climbing 6.1%, JPMorgan Chase up 2%, Wells Fargo gaining 7% and Citi up 7.4%. Bank of America and Morgan Stanley will report results on Thursday.

JPMorgan Chase forecast net interest income for 2025 above analysts' expectations, despite caution about sustaining growth. Its robust results bode well for the banking sector, buoyed by revived deal-making and fundraising as the Federal Reserve cuts interest rates this year to bolster the economy.

Investors received good news with lower inflation rates and potential deregulation, making bank stocks like GS, BK, C, and WFC attractive for 2025.