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  • 02.03.17

Trump to scrap Dodd-Frank financial regs on same day he meets with top Wall Streeters

The president will order a review of the Dodd-Frank Act, rules that put tighter regulations on big banks in response to the 2008 financial crash, with the goal of removing regulatory “burdens” on the banks, reports the Wall Street Journal. Trump will also roll back a law that requires financial advisers on retirement accounts to put the best interests of their clients (i.e., you) first, instead of the financial institutions they work for. As the WSJ notes, it doesn’t help the optics of such an overhaul that Trump is signing the review “on the same day he meets with a group of business executives, including J.P. Morgan Chase & Co. Chief Executive James Dimon and BlackRock Inc. CEO Laurence Fink.” MG