The U.S. government’s review of a landmark 2010 financial reform law will not be complete by early June as originally targeted, and officials will now report findings piece-by-piece, with priority given to banking regulations, sources familiar with the matter said on Monday.
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.
In February, Trump ordered Treasury Secretary Steven Mnuchin to review the law and report back within 120 days, saying his administration expected to be cutting large parts of it.
But the Treasury Department is still filling vacancies after the transition from the Obama administration and there are not enough officials to get the full review done by early June, three sources said.
A Treasury spokesperson dismissed