US Treasury's Mnuchin opposes breakup of banks

Treasury Secretary Steven Mnuchin spars with Senator Elizabeth Warren over banking regulation (AFP Photo/TASOS KATOPODIS)
MoreNew York (AFP) – The Trump administration does not support a return to the Depression-era rule requiring a separation of retail and investment banking, Treasury Secretary Steven Mnuchin said Thursday.
It would be “a huge mistake” to break up the banks, Mnuchin told a Senate committee, but there were some aspects of the Glass-Steagall law, enacted in 193