The Federal Reserve is likely to free some banks from strict oversight, The Wall Street Journal reports. The Fed will allow financial institutions that have passed a new round of stress tests to manage their businesses independent of restrictions placed in 2008. Banks will be permitted to raise dividends and buy back shares, which the government has largely prohibited in the past few years. JP Morgan Chase, U.S. Bancorp, American Express and Wells Fargo are some of the firms that are expected to be released from government restrictions.
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