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Reuters: Trump to Release Plan for Dismantling Dodd-Frank

May 18, 2016

NEW YORK — Republican Presidential candidate Donald Trump told Reuters he would release a plan in about two weeks for overhauling the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.

When pressed on the extent of the changes he would propose, Trump told the media outlet it would “be close to dismantling Dodd-Frank.”

Signed into law in July 2010, the Dodd-Frank Act was designed to prevent excessive risk-taking that led to the 2007-2009 financial crises. The law also created the Consumer Financial Protection Bureau to supervise banks, credit unions and other financial companies, as well as enforce federal consumer financial protection laws.

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Comments

  1. 1. Sheldon Wolff [ May 28, 2016 @ 04:32PM ]

    Although I think this is just more Trump rhetoric , I agree the D-F bill, handcuffed a lot of finance sub prime contracts and other type of mortgages, it also encouraged banks to increase fees, and cut off viable loans. Ya I think we shouldn't have preadatory lending, but those who can only get a subprime loan knows they are huge credit risks. Gambling if an individual will honor their contract requires a higher interest rate. But then again it shouldn't be an unrealistic rate either.

 

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