Trump issues executive orders to undo Dodd-Frank reform law
February 3, 2017
President Donald Trump today issued executive orders to try to eviscerate the Dodd-Frank financial services reform law that Congress wrote after the 2008 financial crisis, The New York Times reported.
Trump cannot repeal the law by executive order, and the exact impact of the order is difficult to determine.
The law was written to address what was viewed as legal laxity that allowed companies, particularly those involved in derivatives that were under the oversight of the Commodity Futures Trading Commission, to engage in activities that were technically legal but unwise. Farm groups and agribusinesses have complained, however, about the impact of Dodd-Frank on the end users of derivatives and the CFTC has tried to address those concerns.
The CFTC comes under the jurisdiction of the Senate Agriculture Committee and the House Agriculture Committee.
–The Hagstrom Report