President Donald Trump on Friday signed two more executive orders intended to scale back financial services regulations, such as those on Wall Street.
Trump issued a broad directive meant to gather input from the heads of federal regulatory agencies on areas for reform in an effort to start the process of loosening what his advisers say are burdensome rules on financial services firms and consumers, according to CNN.
The signed order came hours after his administration released its first job report.
WATCH | White House press briefing with Sean Spicer
Donald Trump also plans to scale back the Dodd-Frank law that limits the powers of Wall Street banks.
Mr. Trump also plans another executive action aimed at rolling back a controversial regulation scheduled to take effect in April that critics have said would upend the retirement-account advisory business.
He is scheduled to meet with the bosses at JPMorgan Chase, Blackstone, IBM, Tesla and GM.
Trump will sign today executive order to undo Dodd-Frank and i absolutely love it— Abdi Muse (@abdi10x) February 3, 2017
Some people are excited about Trump's actions.
Others fear what this could mean.
Better choices for Americans?
“Americans are going to have better choices and Americans are going to have better products because we’re not going to burden the banks with literally hundreds of billions of dollars of regulatory costs every year,” White House National Economic Council Director Gary Cohn said in an interview with The Wall Street Journal.
“The banks are going to be able to price product more efficiently and more effectively to consumers.”
Just this week,Uber’s CEO quit President Trump’s advisory tea, company officials said.