Republicans set their sights lower on Dodd-Frank reform

By Joseph Lawler

Published April 9, 2017 4:00am ET

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Republicans set their sights lower on Dodd-Frank reform — President Donald Trump signs an executive order in the Oval Office of the White House in Washington on Feb. 3. Trump signed an executive order that will direct the Treasury secretary to review the 2010 Dodd-Frank financial oversight law, which reshaped financial regulation after 2008-2009 crisis. From left are, Vice President Mike Pence Rep. Jeb Hensarling, R-Texas, Rep. Ann Wagner, R Mo. and National Economic Council Chairman Gary Cohn. (AP Photo/Pablo Martinez Monsivais) | Pablo Martinez Monsivais

President Trump has set expectations high for undoing former President Barack Obama’s financial reform law, saying that he would do “a big number” on it and boasted this week that he would give it a “very major haircut.”

Yet in Congress, lawmakers are setting their ambitions for changing the 2010 Dodd-Frank law lower, acknowledging that even the unified Republican government will not allow for wholesale changes.

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Congress Dodd-Frank Act Finance Jeb Hensarling Joseph Lawler Lobbying Mike Crapo Minusextra Patrick McHenry Regulations