Article by





Donald Trump plans to cut Dodd-Frank law


2017-02-03 05:13:40
Donald Trump is planning to sign yet another executive order, this time to scale back or cut entirely the Dodd-Frank financial-overhaul law. It's part of Obama's financial sector regulatory system that was put in place to give people more financial protection after the financial crisis.

"Americans are going to have better choices and Americans are going to have better products because we're not going to burden the banks with literally hundreds of billions of dollars of regulatory costs every year. The banks are going to be able to price product more efficiently and more effectively to consumers." -- Gary Cohn, White House National Economic Council Director.

But what is Dodd-Frank law and why should you care? President Obama signed the Dodd-Frank law to make sure the financial crisis as we saw it would never happen again. It is meant to prevent excessive risk-taking that was the root cause of the financial crisis in 2007–2009.

A few things Dodd-Frank Wall Street Reform and Consumer Protection Act put in place were:

  - Comprehensive regulation of financial markets and increased transparency of derivatives.
- Tightened regulation of credit rating agencies.
- Restriction for banks in the United States from making certain kinds of speculative investments that do not benefit their customers





have your say


more in Breaking News
Scottish Parliament to Back new Independence Vote
Donald Trump plans to cut Dodd-Frank law

Scottish Parliament is expected to back the new independence vote proposed by Scottish First Minister Nicola Sturgeon. The vote will be taking place today at around 5pm.

The approval rating of Trump sinks to new low
Donald Trump plans to cut Dodd-Frank law

Based on the latest Gallup poll the approval rating of President Trump has sank to 37%, that means the rating has gone down 8% compared to a week earlier when it stood at 45%.

US: New travel ban blocked by federal judges
Donald Trump plans to cut Dodd-Frank law

The new 90-day travel ban on immigration from six countries was blocked this morning by a federal judge in Maryland.

Congressional Budget Office predicts Trumpcare leaves 24 million people without coverage
Donald Trump plans to cut Dodd-Frank law

According to estimation by CBO, Congressional Budget Office, Republican version of the new health-care law will leave more than 24 million people without healthcare coverage, changing the number of uninsured from current 10 percent to 19 percent in a decade. The estimation after the first year is 14 million extra uninsured people.

Scotland to seek second referendum?
Donald Trump plans to cut Dodd-Frank law

Nicola Sturgeon, the leader of the Scottish National Party, said that she will be asking for permission to hold a second referendum on Scottish independence.

Planned Parenthood to be defunded as part of Trump[no]care
Donald Trump plans to cut Dodd-Frank law

Mike Pence, the vice president of the United States, said that the White House wants to defund Planned Parenthood in the health care bill to replace Obamacare.

Elon Musk to fix Aussie power problems in 100 days?
Donald Trump plans to cut Dodd-Frank law

Australia has energy crisis and Elon Musk has promised to solve it within 100 days. He intends to do it by using Tesla technology to fix the problem that has caused power blackouts.

Reasons to vote for Democrats book becomes Amazons number ONE best seller
Donald Trump plans to cut Dodd-Frank law

But it is not what you think. Even though it claims to be the most exhaustively researched and coherently argued Democrat Party apologia to date, being a sarcastically named work, in reality it is anything but. Or just to be clear, the book consists of 266 blank pages.

Attack of an Ax man in Düsseldorf, 7 injured
Donald Trump plans to cut Dodd-Frank law

A man ran through Dusseldorf's main train station with an ax, hitting and injuring 7 people before being apprehended by police.

New Ebola vaccine to help protect chimps
Donald Trump plans to cut Dodd-Frank law

Scientists have developed a new vaccine created to combat Ebola among chimpanzees and gorillas.

thecheers.org

Welcome to TheCheers! We've been around for a long time now, since 2004, publishing articles by people from all over the world. Roughly 300 people from 30 different countries have written for us over the years. Should you want to become a volunteer contributor, be sure to contact us!

Random
Entertainment Blogs
get in touch

You can contact us via The Cheers Facebook page or The Cheers NEW Twitter account.