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AmericasNovember 16 2020

Biden victory ushers in tougher environment for US banks

Higher taxes and tighter regulation may beckon as new administration shifts emphasis towards climate change and healthcare.
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Biden victory ushers in tougher environment for US banks

With Democrat Joe Biden set to become US president on January 20 following elections on November 3, banks could face significant regulatory and tax changes as the new administration shifts the US government’s priorities.

While President Donald Trump was primarily focused on economic growth, his successor in the White House will prioritise environmental, healthcare and social issues over the longer term.

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