Trump Signs Actions to Begin Scaling Back Dodd-Frank

President Donald Trump ushered in a friendlier era for Wall Street’s relationship with Washington, calling for an end to eight years of rising regulations and publicly embracing some of the industry’s top leaders, the Wall Street Journal reported on Saturday. At a White House meeting, Trump on Friday promised to undo a bevy of restrictions on financial firms put in place after the 2008 financial crisis, while praising the CEOs of BlackRock Inc. and JPMorgan Chase & Co. The six biggest U.S. banks could potentially return more than $100 billion in capital to investors over time through dividends and share buybacks if the Trump administration succeeds in a push to loosen bank regulation, the Wall Street Journal reported today. President Donald Trump on Friday signed a memorandum ordering a review of the Dodd-Frank Act, the post-financial crisis regulatory overhaul that has guided regulators such as the Federal Reserve. That caused bank stocks to gain ground Friday, building on sharp increases since the presidential election. Those occurred as expectations among investors of higher interest rates, less regulation and stronger economic growth stoked optimism that banks will be able to return more capital to shareholders.

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