It has taken seven years to put in place the regulatorystrictures imposed on Wall Street after the financial crisis. Theywon't be removed fast or easily.

President Donald Trump's directive Friday that set in motion ascaling back of the Dodd-Frank Act was more pageantry than policy,said lawyers and former government officials who worked on the 2010law. While the expectation for quick action sent bank stocks higherFriday, numerous roadblocks remain before lenders get relief.

Chief among the hurdles is that Trump doesn't have any of hisappointees running the agencies that oversee financial rules.Congress, too, will have to pass new legislation for manyDodd-Frank regulations to be eased. And the president's decision toput two former Goldman Sachs partners in charge of the effort —less than a decade after the bank's traders helped bring theeconomy to the edge of collapse — galvanized opposition fromDemocrats.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.