Barclays & Bank of American execs have met with top US officials for the first time since President Donald Trump’s executive order banning immigration from seven majority-Muslim countries took effect on January 6, CNN Money reported.
The meeting, which is scheduled for Wednesday, is one of several planned for the two institutions in the coming weeks.
In a statement, Barclays said it “is committed to meeting our customers’ needs to help them maintain and grow their businesses.”
The company said it will “continue to work with our US and international partners to ensure the health and well-being of our employees, our customers and the communities in which we operate.”
It added that it has “strong and ongoing relationships with the United States and many other countries” that will help to support its US operations.
Bank of Americans also plans to expand its US presence.
The company is one that is seen as being “more competitive” with competitors.
It has a $2.5 trillion market cap and has been the subject of intense scrutiny for its financial services practices.
In the past, US officials have expressed concerns that the banking system is too complex to fully understand.
“The lack of understanding is really concerning,” Treasury Secretary Steven Mnuchin said in March when Trump signed the executive order.
“They have too many rules.”
The banks are expected to meet with the heads of the Federal Reserve and the Securities and Exchange Commission, as well as other officials, to discuss how to make the banking systems more transparent and accountable.
The White House did not immediately respond to a request for comment.