Dodd-Frank’s tentacles go deep, won’t be easily cut
February 6, 2017 by ROBERT SCHMIDT, JESSE HAMILTON, ELIZABETH DEXHEIMER
(Bloomberg) — It took seven years to put in place the regulatory strictures imposed on Wall Street after the financial crisis. They won’t be removed fast or easily.
President Donald Trump’s Friday directive that set in motion a scaling back of the Dodd-Frank Act was more pageantry than policy, said lawyers and former government officials who worked on the 2010 law. While the expectation for quick action sent bank stocks higher Friday, numerous road-blocks remain before lenders get relief.
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