Great Depression (1929)

Trump takes first step to scale back financial regulations

Trump takes first step to scale back financial regulations

President Donald Trump launched his long-promised attack Friday on banking rules that were rushed into law after the nation's economic crisis, signing new orders after meeting with business and investment chiefs and pledging further action to free big banks from restrictions. Wall Street cheered him on, but Trump risks disillusioning his working-class voters.

He directed his Treasury secretary to review the devilishly complex 2010 Dodd-Frank financial oversight law, which was signed by President Barack Obama to overhaul regulations after the financial and housing crisis of the past decade. It aimed to restrain banks' from misdeeds that many blamed for the crisis.

The new...

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