Last week, the House passed a Republican-led bill, the Financial Choice Act, which was built to take down Dodd-Frank. The bill’s fate now lies in the Senate’s hands.
Last week, President Trump signed an executive order that set into motion future changes to banking regulations. While these changes won’t be revealed for some time, there is speculation what those changes could entail and how they could potentially affect the banking industry.
Today, President Trump will sign two executive actions that will begin the work of overhauling banking regulations enacted after the 2008 economic meltdown. Regulations, like the 2010 Dodd-Frank Wall Street reform law, that the new administration has deemed as burdensome on financial services firms and consumers.