Investors, Banks Cheer Trump's Attack On Financial Reform
Today is the first full day of trading after President Trump directed the U.S. Treasury to review the 2010 financial reform bill known as Dodd-Frank, and big banks like J.P. Morgan Chase & Co. and Citigroup Inc. are up.
On Friday Trump called Dodd-Frank “a disaster” and vowed to cut “a lot” of the regulations put in place after the 2008 financial crisis. One of those was a pending rule expanding something known as the “fiduciary standard,” which required retirement advisers to put the interests of their clients first.
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