Major U.S. banks have collectively spent a record $33 billion on stock buybacks in the first quarter of 2026, driven by increased profits and relaxed regulations under the Trump administration. This figure significantly exceeds market expectations, with JPMorgan Chase, Goldman Sachs, and Citigroup executing their largest-ever buybacks. Bank of America and Morgan Stanley also reported their highest buyback levels in years. The deregulation efforts by the Trump administration, the most significant since the 2008 financial crisis, have enabled banks to focus more on lending and shareholder returns rather than capital buffers. Analyst Chris Kotowski from Oppenheimer noted that the buyback volumes surpassed forecasts by up to 50%.