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Trump Targets to Revamp Wall Street Reform Law


April, 12 2017
watermark Economic news

Trump administration intends to revise the Dodd-Frank Wall Street reform law and changes its rules including an overhaul in bank stress-testing rules, Consumer Financial Protection Bureau's supervisory powers and loosen securities regulations. Earlier this year, Trump commanded reviews in the major banking rules after the 2008 financial crisis as they plan to change the majority of it and even eliminate some of it.

These changes require congressional action although some cases would undergo negotiations through the formal ruling. It is already anticipated not to be completed in the near term as there are other aspects focused on such as the tax reform and health care program.

Treasury Secretary Steve Mnuchin has announced that the proposal report concerning feasible regulatory and legislative changes are to be released in June which will serve as a backbone to revisions. Also, the House of Representatives Financial Services Committee Chairman, Jeb Hensarling, stated that a new draft will be publicized by the end of the month.

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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.