Trump says he's thinking about breaking up the big banks by Akin Oyedele on May 1, 2017, 1:00 PM Advertisement
 President Donald Trump said Monday he was contemplating breaking up the big Wall Street banks. "I'm looking into that right now," he told Bloomberg about bringing back the "old system" that separated consumer lending and investment banking. The move would return a version of the repealed Glass-Steagall Act that was passed in 1933 and required banks to separate commercial deposit banking from investment banking. While campaigning, Trump said he supported a 21st century version of the law. Stocks fell after headlines from Trump's interview crossed. At 12:56 p.m. ET, the Dow was down 14 points, or 0.07%. Shares of several big banks including Morgan Stanley, Citi, and Goldman also fell. More to come ... SEE ALSO: One slice of the market threatens to ruin the S&P 500's clean earnings sheet
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