President Trump “will order a sweeping review of the Dodd-Frank Act rules enacted in response to the 2008 financial crisis, a White House official said, signing an executive action Friday designed to significantly scale back the regulatory system put in place in 2010,” Bloomberg reports.
“Trump also will halt another of former President Barack Obama’s regulations, hated by the financial industry, that requires advisers on retirement accounts to work in the best interests of their clients. Trump’s order will give the new administration time to review the change, known as the fiduciary rule.”
Politico: “Overhauling the Dodd-Frank law would undo one of former President Barack Obama’s signature legislative initiatives. Trump has taken up the Republican argument that the law has discouraged lending and prevented new firms from being formed.”Save to Favorites