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New Executive Order Directs Treasury Department to Review Financial Regulations

Posted Feb 3, 2017

President Trump signed an executive order that establishes a framework for dismantling much of the regulatory system put in place after the financial crisis of 2008, including the 2010 Dodd-Frank Act. The Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203), was enacted by the Obama administration to prevent the excessive risk-taking that had led to the financial crisis. In a separate memorandum, Trump suspended a conflict-of-interest rule for retirement advisors before it goes into effect this year and ordered the Labor department to conduct an economic and legal analysis of the regulation and rescind the rule if it is inconsistent with Trump administration priorities.  Read articles in USA Today and the Los Angeles Times.