Wall Street Fumes at 11th-Hour Rule

The transcript discusses a new rule from the OCC forcing banks to lend to controversial companies, which has sparked anger on Wall Street. The rule, introduced late in the Trump presidency, is criticized for lacking logic and potentially undermining bank safety. Wall Street is also upset about new regulations that increase competition. The Biden administration is expected to reverse these rules. Additionally, bank earnings are starting, with analysts watching for commentary on Biden's stimulus plans and trading performance.

In what ways might the Biden administration respond to the recent banking regulations?

What are the potential effects of the new regulations on bank earnings and trading activities?