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President Trump Begins Efforts to Roll Back Financial Regulations

February 3, 2017, Covington Alert

Throughout his campaign, President Donald Trump promised to curtail financial regulations, particularly those promulgated under the Dodd-Frank Act. President Trump argued frequently that the regulations issued under the act have proven overly burdensome and, among other things, limited job growth. This afternoon, the President took his first formal step in implementing his deregulatory agenda. He signed an executive order that will set in motion a comprehensive review of all financial regulatory requirements—including but not limited to those resulting from Dodd-Frank—and he issued a memorandum to the U.S. Department of Labor (DOL) ordering a 180-day postponement of its “fiduciary rule” and directing an analysis of whether the rule should be rescinded or revised.

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