Introduction

The Trump administration is seeking to weaken the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, a broad set of regulations aimed at preventing a repeat of the 2007–09 financial crisis. The law requires banks and other financial companies to set aside large cash reserves to deal with problem loans or other failures that could drag down the entire economy. In addition, Dodd-Frank cracks down on consumer loan fraud and bars financial institutions from making speculative investments with their own capital. Many Democrats and consumer groups argue that Dodd-Frank has added crucial safeguards without hurting the banking industry's profitability. But industry officials and conservative Republicans contend that Dodd-Frank has stifled economic growth and hurt consumers by over-regulating banks, credit card companies, payday lenders and ...

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