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Trump team tempers expectations on Dodd-Frank

Published 11/11/2016, 02:56 PM
Trump team tempers expectations on Dodd-Frank
FAS
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FAZ
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XLF
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FXO
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IYF
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IYG
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SEF
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UYG
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FINU
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RWW
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RSPF
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VFH
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FNCL
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FINZ
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XLFS
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JHMF
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BTO
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  • "Dodd-Frank is dead," said a distraught James Carville on election night ... maybe not so fast.
  • Sources tell the WSJ that the president-elect's team is focused on killing or easing certain individual provisions deemed the most objectionable - the FSOC's ability to designate non-banks as SIFIs, for one - but a full repeal isn't going to happen.
  • Also up for change is the section of the law giving regulators the authority to take over a failing financial firm and liquidate (instead of bailing it out).
  • The Trump team is fine with certain parts of the law like those improving the transparency of credit-rating firms, and regulating derivatives products.
  • House Financial Services Chairman Jeb Hensarling earlier this year got a Dodd-Frank overhaul bill through his committee. He's reportedly under consideration to be the next Treasury Secretary.
  • ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, BTO, IYG, FNCL, SEF, FXO, RYF, FINU, RWW, XLFS, FINZ, JHMF, FAZZ, FNCF

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