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Feb 9, 2017
Not long ago and prior to a meeting with his economic advisory council, President Donald Trump held a briefing to discuss the putative repeal of 2010’s Dodd-Frank Act.
This was the single most visible legislative consequence of the banking crisis.
“We expect to be cutting a lot out of Dodd-Frank,” Trump said. “I have so many people, friends of mine, with nice businesses, they can’t borrow money, because the banks just won’t let them borrow because of the rules and regulations and Dodd-Frank.”
Hours later, as promised, the president issued a memorandum to set in motion his plan to scale back the provisions of Dodd-Frank and repeal the upcoming fiduciary rule—the latest in his slate of executive orders aimed at decreasing regulations.
But will a repeal of Dodd-Frank really help small business, too?
We speak for KGNU's "It's The Economy" with Erik Gerding, Associate Dean for Academic Affairs, Professor of Law, at CU Boulder.
He is also the author of "Law, Bubbles, and Financial Regulation."