Trump prepares to 'do a very major haircut on Dodd Frank'

Key part of election campaign

US President Donald Trump has vowed to enact 'very strong' reforms of the US banking sector including 'a very major haircut' on consumer protection rule Dodd Frank.

According to the BBC, Trump (pictured) has promised widespread reform of financial regulations in the US. During his election campaign, Trump emphasised that financial regulatory reform was a key part of his agenda as a way to boost growth and jobs and that he would dismantle the Dodd-Frank Act.  At a town hall meeting in Washington DC yesterday, he said there is going to be a "very major haircut" on Dodd-Frank legislation.  Trump appoints Carl Icahn as special adviser on regulatory reform "We are going to do a very major haircut on Dodd-Frank," he said. "We want strong restr...