Trump can rein in financial bureau without help from Congress

The Financial Stability Oversight Council (FSOC) hosted its first meeting under the Trump administration this week. This super council of federal financial regulators represents but one of the enormous powers granted to the executive branch by the Dodd-Frank Act. In the Trump administration, it may ironically prove to be the most powerful tool to implement the president’s promise to rethink Dodd-Frank, particularly as major financial services reform legislation likely stalls in the Senate.

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