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Donald Trump renews pledge to curb Dodd-Frank financial regulations

President Trump reiterated his intention Monday to ease financial regulations imposed by Washington in 2010, saying he plans to “do a big number” soon on the Dodd-Frank law.

“Dodd-Frank is a disaster,” the president told reporters in the Oval Office as he signed an executive order trimming government regulations. “We’re going to be doing a big number on Dodd-Frank. The American dream is back.”

The law was a response to the financial crisis and restricts banks from making certain risky investments.

The measure also created the Consumer Financial Protection Bureau, an agency with sweeping powers to regulate banks and credit-card companies. Some Republican lawmakers are eager to reform the agency or fire Director Richard Cordray.

Source: www.washingtontimes.com stories: Politics

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