A Blog Entry
Posted by Prime Banking • Filed under Banker in the know
An executive order from President Donald Trump could scale back the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.
The vast piece of financial reform legislation passed as a reaction to the 2008 financial crisis and covered about 2,300 pages, places regulation of the financial industry in government hands. It also established a number of government agencies charged with overseeing different aspects of the banking system.
The President's executive order "Core Principles for Regulating the United States Financial System" provides guidelines by which the Administration will judge the advisability of implementing financial regulatory changes not needing Congressional approval.
Tagged: Richard, Anna, Will, Caira
Comments (3) • May 27, 2010 • Edit
3 Responses
Lucy Says:
April 4th, 2017 at 3:21 pm
New Mexico state representative Bill Rehm, R-Albuquerque, the bill’s sponsor said, “New Mexico is one of two states, Arkansas is the other, that do not have a data breach bill.
Nicki Says:
April 4th, 2017 at 9:17 pm
The revised rule gives financial service organizations at least a year-and-a-half to comply with the requirements.
William Says:
April 7th, 2017 at 7:17 am
A business would have 30 days to alert consumers of a potential breach if the business believes there is a serious risk of identity theft or fraud as a result. Non-compliance could result in a fine up to $150,000.