Trump Drains the Swamp by Washing Away Financial Protections with Executive Orders

Feb 3, 2017
Press Release

Febraury 3, 2017

Washington, D.C. – Today Rep. Dina Titus of Nevada’s First Congressional District issued the following statement on President Donald Trump’s executive orders to undermine Dodd-Frank and eliminate the Labor Department’s Fiduciary Rule, a measure that mandates financial planners act in the sole interest of participants.  

“It’s no surprise that Donald Trump, a man who cheered for the decline of the housing market, is now working to eliminate safeguards that currently prevent the exotic and risky financial trades that led to the Great Recession. The Dodd-Frank legislation established the Volcker Rule and Consumer Financial Protection Bureau for good reason: to protect Americans from the panic and disruption that upended our economy. The Obama administration created the Fiduciary Rule for the same reason. I will continue to support and advocate for safeguards in the financial sector and scrutinize further attempts by President Trump to diminish the progress we have made in recent years. It’s clear that draining the swamp for Trump means washing away oversight for his friends and choosing cabinet members with cozy ties to Wall Street.”