Bank Deregulation and Global Regulatory Divergence

SEC scrapped $25k PDT rule, boosting retail trading; Schwab early adopter. CFPB final rule on small business lending data collection (Reg B) effective June 2026, compliance by 2028. US banks deploying freed capital ($2.5T asset capacity, 6% ROTCE uplift) while Europe tightens. Basel III implementation differences create competitive shifts.