From my perspective Dodd-Frank is a typical progressive fix filled with all kinds of 'unintended consequences'. All it did was create a lot of new jobs for federal bureaucrats, accompanied by an increased regulatory burden, and extend the reach of Federal regulation to smaller financial institutions

To accompany it Obama further lowered the requirements for sub prime mortgages.


Friday, 03 February 2017
Trump: "We Expect to be Cutting a Lot out of Dodd-Frank"
Written by Warren Mass

President Trump signed an executive order on February 3 directing the secretary of the treasury to review financial regulations. The order is intended to be a first step toward rolling back the Obama-era Dodd-Frank Wall Street Reform and Consumer Protection Act.

Trump also signed an executive memorandum ordering a review of the Department of Labor’s Fiduciary Duty Rule, due to take effect in April, that would raise the standards of all financial professionals who work with retirement plans or provide retirement planning advice to the level of a fiduciary, a much higher level of accountability than previously required of financial salespersons, such as brokers, planners and insurance agents. The memorandum sets the stage for repealing or revising the Fiduciary Duty Rule.

At the beginning of a morning meeting with leading business leaders in the White House state dining room, Trump asked Rep. Ann Wagner (R-Mo.) to explain the the agenda. She said:

What we’re doing is we are returning to the American people, low- and middle-income investors, and retirees, their control of their own retirement savings. This is about Main Street, and it’s been a labor of love for me for over four years as [co] chairman [of the Republican National Committee]. And I have had — this is a big day, a big moment for Americans.

Trump said about Wagner, “And she means that so much.” He then signed the executive memorandum directing the secretary of Labor to delay in implementing the fiduciary rule.

Continuing with the meeting, Trump told those gathered:

There’s nobody better to tell me about Dodd-Frank than Jamie [Dimon, CEO of JPMorgan Chase], so you’re going to tell me about it. But we expect to be cutting a lot out of Dodd-Frank, because, frankly, I have so many people, friends of mine that have nice businesses that can’t borrow money, they just can’t get any money because the banks just won’t let them borrow because of the rules and regulations in Dodd-Frank. So we’ll be talking about that, Jamie, in terms of the banking industry.

Following the White House meeting, Trump signed his executive order to review financial regulations. Entitled “Presidential Executive Order on Core Principles for Regulating the United States Financial System,” this order could lead to rewriting major provisions of the Dodd-Frank Act — though it does not mention the act by name. However, one of the “core principles” in the order goes to the heart of correcting one of the worst failures of Dodd-Frank: “prevent taxpayer-funded bailouts.”

A report from CBS News noted about the executive order:

While Mr. Trump’s signed order won’t have any immediate impact, it directs the Treasury secretary to consult with members of different regulatory agencies and the Financial Stability Oversight Council and report back on potential changes.

The position of Treasury secretary is currently vacant, since Trump’s nominee for the cabinet post, Steve Mnuchin, has not yet been confirmed by the Senate. He is expected to receive a full Senate vote next week.

“We’re going to attack all aspects of Dodd-Frank,” Gary Cohn, director of the White House National Economic Council, said Friday in an interview with Bloomberg’s David Westin on Bloomberg Daybreak: Americas. “We are going to engage the House, we’re going to engage the Senate. They are equally interested in reforming some of the regulatory processes as well. We can do quite a bit without them, but the more help we get from Congress the better off we’re all going to be.”

A Bloomberg report about the Trump executive orders noted:

The Trump administration doesn’t believe Dodd-Frank measures, including the Volcker Rule limits on banks making speculative bets with their own funds, addressed real issues in the financial system, [a White House] official said. The president’s team also believes the Labor Department fiduciary rule was unnecessarily restricting investor choice without providing necessary consumer protection, the official said.

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https://www.thenewamerican.com/usnews/po...t-of-dodd-frank


This sounds like reinstating Glass-Steagall
"Trump declined to offer specifics on his plan, but said it would address whether institutions should separate commercial banking activities from investment banking. "
http://fortune.com/2016/05/18/trump-dodd-frank-wall-street/


Additionally:
Trump Adm. Moves to Reduce Chances for Real Estate Meltdown