Update: Market Chatter: Top US Banks Call on Trump Seeking Roles in Fannie Mae, Freddie Mac IPO

12:05 PM EDT, 10/07/2025 (MT Newswires) -- (Updates with Citigroup (C) and Wells Fargo's (WFC) response in the last paragraph)

Top US banks are calling on President Donald Trump for lead roles in the planned initial public offering of mortgage financing companies Fannie Mae and Freddie Mac, The Wall Street Journal reported Tuesday.

Chief executive officers of JPMorgan Chase (JPM) , Bank of America (BAC) , Wells Fargo (WFC) , Morgan Stanley (MS) , Goldman Sachs (GS) and Citigroup (C) have all visited the White House, attempting to "court" Trump, Treasury Secretary Scott Bessent, Federal Housing Finance Agency Chief Bill Pulte, and Commerce Secretary Howard Lutnick, the report said.

"Everyone wants to be on this," one top bank executive said, according to the report.

Trump officials have also fielded calls from smaller investment banks, the report said.

Trump officials have been envisioning initial public offerings that would value the combined firms at $500 billion and raise $30 billion, the report added.

Morgan Stanley (MS) did not respond to an MT Newswires request for comment, while the other banks declined to comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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