--- title: Donald Trump Signs Huge Rollback of Bank Rules description: President Donald Trump has signed the biggest rollback of financial regulation since the Dodd-Frank Act was enacted in 2010 canonical: https://time.com/5290474/trump-bank-rollback-dodd-frank/ author: TIME article:opinion: false article:content_tier: free article:published_time: 2018-05-24T17:25:40.000Z article:modified_time: 2026-10-12T09:28:36.736Z article:section: Politics og:title: President Trump Signs Biggest Rollback of Bank Rules Since Dodd-Frank Act og:description: President Donald Trump has signed the biggest rollback of financial regulation since the Dodd-Frank Act was enacted in 2010 og:url: https://time.com/5290474/trump-bank-rollback-dodd-frank/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt8e6a067585f4faa0/698930b3929fad9dc7bf095d/gettyimages-959587954.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 og:image:width: 5000 og:image:height: 2813 og:image:alt: President Trump Hosts NATO's Secretary General Jens Stoltenberg At The White House og:type: article twitter:card: summary_large_image twitter:title: President Trump Signs Biggest Rollback of Bank Rules Since Dodd-Frank Act twitter:description: President Donald Trump has signed the biggest rollback of financial regulation since the Dodd-Frank Act was enacted in 2010 twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt8e6a067585f4faa0/698930b3929fad9dc7bf095d/gettyimages-959587954.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 ---  # President Trump Signs Biggest Rollback of Bank Rules Since Dodd-Frank Act > Sponsored content. 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It explains the politics, personalities and power dynamics behind the headlines, twice a week. #### Where can I get analysis of Washington politics by email? D.C. Brief is TIME's free Washington politics newsletter, available at time.com/newsletters. It is written by a TIME senior correspondent who covers the capital full time. #### Who writes TIME's D.C. Brief? Philip Elliott, a senior correspondent at TIME, writes D.C. Brief. #### Is D.C. Brief free? Yes. D.C. Brief is free at time.com/newsletters. ### Sources * TIME Newsletters: [time.com/newsletters](/c/time-nl-dcbrief-2026q3/newsletters?i=ceea3d36-7714-4194-98e7-321f4736eb25&cr=time-nl-dcbrief-2026q3-v1) ## Video: President Trump Signs Biggest Rollback of Bank Rules Since Dodd-Frank Act [Watch (HLS stream): President Trump Signs Biggest Rollback of Bank Rules Since Dodd-Frank Act](https://cdn.jwplayer.com/manifests/FHtOKXoQ.m3u8) (2:12)  _Published 2018-05-24. President Trump Signs Biggest Rollback of Bank Rules Since Dodd-Frank Act_ by [Bloomberg](https://time.com/author/bloomberg/) ## Bloomberg Contributor May 24, 2018 5:25 PM UTC President Trump Signs Biggest Rollback of Bank Rules Since Dodd-Frank Act by [Bloomberg](https://time.com/author/bloomberg/) ## Bloomberg Contributor May 24, 2018 5:25 PM UTC President Donald Trump has signed the biggest rollback of financial regulation since the Dodd-Frank Act was enacted in 2010, freeing smaller banks from the burden of being labeled too big to fail. Surrounded by lawmakers and financial regulators at the White House on Thursday, Trump put pen to paper on the product of years of industry lobbying and sensitive talks on Capitol Hill to gain bipartisan support needed to get it through the Senate. “This is all about the Dodd-Frank disaster, and they fixed it or at least have gone a long way to fixing it,” Trump said at the signing ceremony. “It’s a big deal, a big deal for our country. Today is truly a great day for America.” The law gives regional and community banks relief from rules that they’ve decried as burdensome and costly. It raises to $250 billion from $50 billion the asset threshold for lenders to face stricter Federal Reserve oversight as systemically important financial institutions. That would free companies such as American Express Co. and SunTrust Banks Inc. from higher compliance costs associated with being considered too big to fail. Small banks are also freed from Volcker Rule restrictions and the legislation makes a technical fix that would let some investment firms like BlackRock Inc. continue trading with some funds. Among the biggest losers are bigger regional banks such as Capital One Financial Corp. and PNC Financial Services Group Inc., which would keep their SIFI designations. Wall Street banks like Citigroup Inc. and JPMorgan Chase & Co. also lost out on getting relief from some capital requirements they lobbied to include. A small win for Wall Street comes in the form of a provision letting big banks include municipal bonds in required stockpiles of assets that could be sold to provide funding in a crisis, something that JPMorgan and Citigroup have sought for years. Custody banks such as State Street Corp. and Bank of New York Mellon Corp., which specialize in safeguarding assets as opposed to traditional commercial banking, get relief from some capital requirements. ## Transcript The legislation I'm signing today rolls back the crippling Dodd Frank regulations that are crushing community banks and credit unions nationwide. They were in such trouble. One size fits all, those rules just don't work, and community banks and credit unions should be Regulated the same way and you have to really look at this. They should be regulated the same way, with proviso for safety, as in the past when they were vibrant and strong. But they shouldn't be regulated the same way as the large, complex. Financial institution. Local business has few other resources and few other ways of getting credit. And for many Americans these small banks are the only financial institutions in their entire community. They made their communities worked and they been essentially shutdown When these community banks close their doors, it denies small businesses and everyday Americans access to capital that they desperately need. By liberating small banks from excessive bureaucracy, and that's what it was, bureaucracy, we are unleashing the economic potential. Of our people. This legislation also strengthens protections against identity theft, big problem nowadays. Bigger than anyone understands. Expands crucial financial access to low- income and minority communities. And ensures that educational And job training opportunities are available to more families in need. These reforms are critical to helping all Americans thrive and to prosper. Today's legislation is the next step in America's unprecedented economic comeback. There's never been a comeback like we've made. And one day, the fake news is going to report it. [ LAUGH ] But that's okay, you've been very nice today, actually, you've been extremely nice. 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