President Donald Trump is expected to sign a series of executive orders on Thursday, focusing on banking and investments.
They include an order which will allow riskier assets, such as real estate, private equity and cryptocurrency, to be included in 401(k) retirement accounts. Trump is also expected to sign an order formalizing "debanking" protections.
What To Know
- Trump's 401(k) order would allow private equity and other fund managers to tap into trillions of dollars of Americans' retirement savings.
- "The order directs the Securities and Exchange Commission to facilitate access to alternative assets for participant-directed defined-contribution retirement savings plans by revising applicable regulations and guidance," the White House official told Reuters on condition of anonymity.
- His "debanking" order would would punish banks for restricting or blocking services to customers based on their political or religious beliefs.
- Conservatives and crypto industry advocates have been pushing for Trump to direct federal banking regulators to remove "reputational risk" language from their guidance which they say has been used to exclude them from mainstream organizations.
