Tue | Aug 22, 2017

Trump to sign measures to review “too big to fail” regulation

Published:Sunday | April 23, 2017 | 4:00 AM
Trump

President Donald Trump is continuing to target a law meant to stop banks from growing "too big to fail."

The president was expected to travel to the Treasury Department last Friday to sign three measures.

One memorandum will order the treasury secretary to review a component of the 2010 Dodd-Frank financial reform law that allows federal regulators to liquidate large, failing financial firms during a financial crisis as an alternative to bankruptcy.

Another will order the Treasury to review a process that designates which non-bank firms could threaten the financial system if they fail. Critics argue that the process is costly and arbitrary.

Trump was also set to sign an executive order directing the treasury secretary to review significant tax regulations issued in 2016 to determine if any impose an undue burden on taxpayers.

- AP