The Federal Reserve is planning to withdraw government oversight on some of the nation’s largest banks Friday, reports the Wall Street Journal. After two years of regulation following 2008’s crisis, the Fed will now allow financial institutions that have passed a January round of stress tests to operate as they did prior to industry’s near-collapse, restriction-free. Banks will now be able to raise dividends and initiate share buybacks, which was previously largely prohibited as an effort to preserve capital and a stipulation to receive government aid. Of the 19 banks tested, J.P. Morgan Chase (NYSE:JPM) is one of the bank expected to receive immediate approval for a dividend hike and share repurchases. The bank had slashed its quarterly dividend by 87% to $0.05 in February 2009 which gave JPM an additional $5 billion a year. Analysts also expect U.S. Bancorp (NYSE:USB), American Express Co. (NYSE:AXP) and Wells Fargo & Co. (NYSE:WFC) to be among the first institutions cleared from restrictions. Dividend increases are important factors of growth as they allow healthy companies to reward shareholders and employees while attracting investors.