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Trump team tempers expectations on Dodd-Frank

Nov. 11, 2016 2:56 PM ETXLF, IYF, IYG, VFH, RSPF, UYG, FXO, SEF, FAS, FAZ, RWW, BTO, FINU-OLD, FINZ, FNCL, JHMF, XLFS, FAZZ, FNCFBy: Stephen Alpher, SA News Editor5 Comments
  • "Dodd-Frank is dead," said a distraught James Carville on election night ... maybe not so fast.
  • Sources tell the WSJ that the president-elect's team is focused on killing or easing certain individual provisions deemed the most objectionable - the FSOC's ability to designate non-banks as SIFIs, for one - but a full repeal isn't going to happen.
  • Also up for change is the section of the law giving regulators the authority to take over a failing financial firm and liquidate (instead of bailing it out).
  • The Trump team is fine with certain parts of the law like those improving the transparency of credit-rating firms, and regulating derivatives products.
  • House Financial Services Chairman Jeb Hensarling earlier this year got a Dodd-Frank overhaul bill through his committee. He's reportedly under consideration to be the next Treasury Secretary.
  • ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, BTO, IYG, FNCL, SEF, FXO, RYF, FINU, RWW, XLFS, FINZ, JHMF, FAZZ, FNCF

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