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Feb

06

Trump Moves to Roll Back Obama-Era Financial Regulations

By Tony Seruga

President Trump met with business leaders in the State Dining Room at the White House on Friday.CreditAl Drago/The New York Times

President Trump on Friday moved to chisel away at the Obama administration’s legacy on financial regulation, announcing steps to revisit the rules enacted after the 2008 financial crisis and to back away from a measure intended to protect consumers from bad investment advice.

After a White House meeting with executives from Wall Street, Mr. Trump signed a directive aimed at the Dodd-Frank Act, crafted by the Obama administration and passed by Congress in response to the 2008 meltdown. He also signed a memorandum that paves the way for reversing a policy, known as the fiduciary rule, that requires brokers to act in a client’s best interest, rather than seek the highest profits for themselves, when providing retirement advice…

Trump Moves to Roll Back Obama-Era Financial Regulations

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