Trump Signs Executive Order for Scaling Back Financial Regulatory Framework
President Donald Trump signed an executive order Friday scaling back the sweeping 2010 Dodd-Frank financial regulatory framework enacted under his predecessor as a direct response to the financial crisis.
In taking aim at Dodd-Frank, the new administration is targeting a broad range of financial reforms ranging from bank rules about speculating with customer funds and wind-down provisions for “too big to fail” institutions to consumer protections from predatory debt collection practices and forced arbitration.
On Monday, Trump called Dodd-Frank a “disaster” and pledged to soon “do a big number” on the law aimed at reforming the way Wall Street does business.
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