Trump rollback of banking regulation well underway

Washington

PRESIDENT Donald Trump's promised rollback of banking regulation is well underway, with vacancies at the top of key agencies and new legislation in the works.

Since the start of his presidency, Mr Trump has decried the financial rules and regulations put in place to combat the excesses that led to the financial crisis through the Dodd-Frank Wall Street reform legislation of 2010. "We expect to be cutting a lot out of Dodd-Frank because, frankly, I have so many people, friends of mine, that have nice businesses that can't borrow money," he said in February. And Mr Trump will have an unprecedented opportunity in coming months to reshape the agencies in charge of regulation, as he fills key positions.