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Trump's management was reviewing the organization of the work of the Banking Law
5/2/2017 0:00
[rtl]London / BBC
oldest US president Donald Trump on his first step in trying to reduce the regulation offinancial services in the United States.
It has signed an executive order to reconsider the financial systems Act of 2010, known as the Dodd-Frank, which was prepared by some on Wall Street, a severe restriction.
This law was issued in the wake of the 2008 and 2009 financial crisis in order to avoid another financial crisis.
Trump said last week: " The Dodd-Frank catastrophe," adding , "We are going to do a review of the Dodd-Frank."
Trump has vowed to work to repeal and replace Dodd-Frank, which also established the Consumer Financial Protection Bureau of Law (CFPB).
This US government agency seeks to make sure that banks and lenders and other financial companies treat consumers in the United States fairly.
The work of the Dodd-Frank, who bore my name American Organic Act of Parliament (Congress) which they had been campaigning for this legislation to rein in risky practices risky by banks and other financial companies.
He said Democratic Congressman Jim Heems told the BBC: "the law of the Dodd-Frank legislative response to the economic carnage caused by the financial crisis in late 2008."
But officials in the administration Trump said: " The Dodd-Frank" did not achieve the goal of it, pointing out that an example of excessive government control.
The news led the impending revision to raise the banks share prices on Wall Street and the major stock markets in Europe. Shares of Goldman Sachs and JP Morgan 4 and 3 percent have risen respectively.
He said Gary Cohen, Trump consultant who was a former executive at Goldman Sachs, told the Wall Street Journal: "Banks will be able to their products more efficiently and more effective pricing
for consumers." [/rtl]
[rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=131129[/rtl]
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