BUDD’S STATEMENT ON PRESIDENT TRUMP’S EXECUTIVE ACTIONS ON FINANCIAL REGULATIONS

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Washington, DC, February 3, 2017 | comments

BUDD’S STATEMENT ON PRESIDENT TRUMP’S EXECUTIVE ACTIONS ON FINANCIAL REGULATIONS

, -- U.S. Representative Ted Budd (R-NC) released the following statement on President Trump’s executive orders regarding the Dodd-Frank Act and the Department of Labor’s Fiduciary Rule:

“It’s no secret that Dodd-Frank’s regulations have hindered small businesses and kneecapped local banks. In fact, since Dodd-Frank became law, the rate of new banks being chartered has fallen by as much as 97 percent, from an average of 100 per year to a only 3.

“As a member serving on the House Financial Services Committee it is encouraging to see President Trump taking bold action to roll back government overreach in the financial sector.

“It’s no accident that over the past 10 years our country has seen the slowest rate of economic growth since the government began keeping that statistic in 1930. These executive orders on Dodd-Frank and the Department of Labor's Fiduciary Rule will help us get back on the right track economically.”

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