U.S. Government Delays Dodd-Frank Reform

Reuters reports that the review of the Dodd-Frank, a financial reform law passed in 2010, will not be completed by June as originally planned. Instead, officials will report their findings incrementally, starting with banking regulations.

The Treasury is still filling vacancies after the transition from the Obama administration and there are not enough officials to complete a review.

President Donald Trump has pledged to do a "big number" on the Dodd-Frank financial overhaul law, which raised banks' capital requirements, restricted their ability to make speculative bets with customers' money and created consumer protections in the wake of the financial crisis.

Officials will first address banking rules, such as capital requirements, speculative trading, and leverage restrictions. Items such as examinations of capital markets, financial innovation, and banking technology will be discussed later.

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