WASHINGTON ¨C U.S. banking lobbyists said on Wednesday they disagree with presidential candidate Donald Trump¡¯s call for a wholesale repeal of President Barack Obama¡¯s financial reform law, even though they share his view that it is overly burdensome.
U.S. banks do want changes to the 2010 Dodd-Frank law, but after spending millions of dollars to bring themselves into compliance with it, they are wary of Trump¡¯s call for it to be essentially scrapped.
Trump, the presumptive Republican presidential nominee, vowed on Tuesday to dismantle most of the law. ¡°Dodd-Frank has made it impossible for bankers to function,¡± he said in an interview.
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