Editor’s Note: The Executive Order, Core Principles for Regulating the United States Financial System, is attached here.
From: The Washington Post
President Trump plans to order a rollback Friday of regulations governing the financial services industry and Wall Street under the Dodd-Frank law and beyond, a White House source confirmed.
The move, set for announcement at a White House meeting with business leaders, would be in line with Trump’s campaign pledge to “dismantle the Dodd-Frank Act and replace it with new policies to encourage economic growth and job creation.” The law is one of the most sweeping overhauls of the financial regulatory system in history. Among other things, it spawned the so-called Volcker rule, which limited the types of investments allowed by U.S. banks, as well as the Consumer Financial Protection Bureau and the Financial Stability Oversight Council that’s supposed to control risks that affected the financial industry.