Donald Trump’s red tape bonfire is a boost to banks

When Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law in July 2010, he conceded that “passing this Bill was no easy task”. When President Obama had taken office in January 2009, the global financial crisis caused by the near-collapse of the banking system was at its height. Dodd-Frank was his solution for ensuring such a meltdown could never happen again.