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WorldMarch 1 2017

Dodd-Frank: the defence

A US regulatory overhaul has been welcomed by many who believe Dodd-Frank has spawned too many regulations and prevents smaller banks from lending. However, there are concerns that the replacement Financial Choice Act will sweep away many of the safeguards designed to prevent a repeat of the 2008 crisis. Jane Monahan reports.
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With US president Donald Trump’s announced review of the Dodd-Frank Act, the pushback on US post-crisis financial regulation has begun.

Mr Trump has said he will “do a big number” on Dodd-Frank, calling it “a disaster”. Both he and Gary Cohn, the White House National Economic Council director and recent Goldman Sachs chief executive, mainly frame their opposition around one area.

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