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White House banks on savings from Dodd-Frank rollback in budget 

May 24, 2017

Sylvan Lane, The Hill

"The White House hasn’t specified how it would seek to roll back Obama-era financial regulations, but has projected in a budget proposal released Tuesday it would save the United States $35 billion over 10 years through its efforts.

President Trump’s first formal budget plan reflects his promise to dismantle the Dodd-Frank Wall Street Reform and Consumer Protection Act with a pledge to foster “economic growth and vibrant financial markets” by scrapping its “regulatory excesses.”

The budget doesn’t specify which specific parts of the law would be rolled back to generate savings and boost the economy.

Some of the promised $35 billion could come through defunding the Consumer Financial Protection Bureau (CFPB), an agency established by Dodd-Frank to crack down on predatory lending and fraud."

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