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Why big banks could be broken up no matter who wins the White House

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No matter who wins the election, the big banks could be on the chopping block.

Keefe Bruyette & Woods analyst Brian Gardner said he can imagine a scenario where horse trading in Congress next year results in a return of rules that would limit the activities of big banks as Congress tries to help smaller banks. The community banks are concerned by new regulatory capital requirements and the complexity of the rules.

Both political parties have mentioned in their party platforms returning to a simpler, Depression-era banking system by reintroducing the Glass-Steagall Act, which separated commercial and investment banking. The law was passed in 1933 but repealed in 1999 allowing for the expansion of financial institutions such as JPMorgan Chase and Citigroup.