Donald trump is doggedly engaged to reviews of the major banking rules that were come into the light in the year of 2008 known for the financial crisis. According to him, there is a great need to change them as they do not hold enough power to add the strength to country’s finance condition.
The time has come up to change the looser banking regulation. Trump organized a meeting at White House in which prominent people took part including CEO Jamie Dimon. He cleared in front of his team that it requires to do a lot of amendment in Dodd-Frank.
According to Frank, Trump does not hold that much power and it is not possible to bring any sorts of substantial change without having the help of Congress. The language mentioned in the order is not that much strong and somewhere it is responsible to weaken the bill. Opposing Dodd-Frank, Trumps said that there are many friends and people whom I know and they cannot borrow money. It is because of the rules and regulations made by Dodd-Frank.
According to the people, they never forgot the crucial year 2008 and they will never forget this one as well. According to the Bankers and lawyers, the amendment made by Trump would not do much within short span of time. It will surely take some time. The team is working on it and people are expecting to have good amendments in coming days.