2017.05.0123:56:00UTC+00Trump Seeks to Shake Up Major Banks on Wall Street

Donald Trump is determined to shake up major financial institutions on Wall Street by separating their consumer unit from their investment operations.

During his interview with Bloomberg TV, Trump said some people want to revert to the old scheme and he will analyze the matter. He added he is willing to raise gas tax in order to finance infrastructure programs.

Trump sought a 21st version of the Glass-Steagall measured which obliged the separation of investment and consumer businesses. However, the Wall Street has repeatedly expressed its opposition to bank breakups.

According to White House spokesperson Sean Spicer, no announcement was planned and there was no additional information.

American banks were permitted to own both consumer and investment banks in 1999 following the amendment of the aforementioned law.