News and Events for Attorneys and Executives

Trump to Issue Directives Targeting Dodd-Frank, Retirement Advice Rule

U.S. President Donald Trump was set on Friday to fire the opening salvo in his campaign to scale back major regulations that resulted from the financial crisis, directing a review of the Dodd-Frank Act and putting the brakes on a retirement advice rule, Reuters is reporting.

“The executive order Trump will sign on the 2010 Dodd-Frank law on Wall Street reform will be a first step towards rolling back the regulations that Trump sees as hurting the economy, but without rewriting the legislation, which can be done only through Congress,” write Ayesha Rascoe and Sarah N. Lynch. One prominent measure is the ‘Volcker rule’ that greatly restricts how banks can make bets with their own money.”

At a recent meeting with business owners, Trump described the law as “a disaster,” the reporters write.

Read the Reuters article.

 

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