Donald Trump Promises To ‘Dismantle’ Wall Street Reform

http://thinkprogress.org/economy/2016/05/18/3779349/trump-dismantle-dodd-frank/
"Consumer protection may be its biggest achievement so far, however. The Consumer Financial Protection Bureau began operating in 2011, and by last year had already netted $10.1 billion in relief for 17 million Americans through its enforcement activities. That includes $2.6 billion in direct restitution as well as $7.5 billion in the form of things like debt cancellation and principal reduction. It has also netted 1.8 million people $248 million in relief from supervisory actions while it’s ordered banks to pay $286 million in civil penalties. The agency wrote new rules for mortgage lending and other products and is supervising some areas, such as credit report agencies and debt collectors, that has previously gone with little oversight. Unlike Trump’s promises to scrap nearly the whole thing, the Democratic candidates say they will take Dodd-Frank even further. Bernie Sanders has promised to break up too big to fail banks within the first year of his administration, cap ATM fees and interest on consumer products, and institute a financial transaction tax on Wall Street. Hillary Clinton has promised to crack down on the shadow banking system that still often falls outside the purview of regulation and expand on Dodd-Frank’s rules."