Trump Administration Counters Politically-Motivated Banking Discrimination Ammoland Inc. Posted on
In late November, the Trump administration took its firmest action yet to counteract ongoing banking discrimination against firearms-related companies.. IMG NRA-ILA
U.S.A. -(AmmoLand.com)- In late November, the Trump administration took its firmest action yet to counteract ongoing banking discrimination against businesses that serve America’s gun owners. The Office of the Comptroller of the Currency, a significant banking regulator, issued a proposed rule to prohibit politically-motivated service denials and to ensure large, nationwide banks would have to make offered products available to all law-abiding customers without ideological bias.
We have captured most of the market upside in November.
While our 6-month Equity Model continues to indicate Positive Fundamentals, our Short-Term Risk model now gives a Sell signal because of exuberant investor sentiment.
The stock market rebounded strongly as investors turned optimistic after the election and positive vaccine news. November was the best month since April – the S&P 500 gained 11% in the month, taking its year-to-date gain to 14%. We had increased our equity exposure to a maximum on November 2
nd on our models’ positive signals, which allowed us to capture most of the upside – instant gratification, which is very unusual in investing.
TAKEAWAYS
A closely divided Congress will limit financial services legislation but Biden appointees in key regulatory positions will have a large impact on the financial services policy agenda.
The Biden administration is likely to support fintech companies that are developing innovative financial products and services while increasing focus on consumer protection regulatory and enforcement priorities.
Although financial services regulation did not receive significant attention during the 2020 election campaign, President-elect Biden could have a significant impact on policies affecting financial institutions across the landscape. During the campaign, President-elect Biden supported proposals to expand access to banking services and financial products to the underserved and address disparate access to and treatment by the financial system.