Quick Note: President Trump working on Dodd-Frank Act Revisions

Thursday, April 13, 2017


The Trump administration is working to revise or replace the Dodd-Frank Act, President Donald Trump told a group of CEOs. House Financial Services Committee Chairman Jeb Hensarling has announced the latest draft of his Financial CHOICE Act, which is intended to overhaul post-crisis regulation. A new Republican plan to streamline Dodd-Frank's capital rules, stress tests and many other requirements will be reintroduced in the coming weeks. There are many problems, of course, not the least of which is that much of DF helps the consumer, and financial service companies have already spent countless millions, if not billions, of dollars conforming to the rules which has been passed on to us consumers. "Revise" is more likely than "repeal."