--- 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: 2026-02-23T20:22:58.008Z 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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Brief is TIME's Washington newsletter, written by senior correspondent Philip Elliott. It explains the politics, personalities and power dynamics behind the headlines, three times a week. It reaches 85,000 subscribers with a 37.0% open rate as of August 2026. #### 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. by [Bloomberg](https://time.com/author/bloomberg/) ## Bloomberg Contributor May 24, 2018 5:25 PM UTC  President Donald Trump in the Oval Office of the White House in Washington, D.C. on May 17, 2018\. Trump defended his use of the word "animals" to describe some immigrants who enter the country illegally. President Donald Trump in the Oval Office of the White House in Washington, D.C. on May 17, 2018\. Trump defended his use of the word "animals" to describe some immigrants who enter the country illegally. Andrew Harrer—Pool/Getty Images 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. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/5290474/trump-bank-rollback-dodd-frank/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/5290474/trump-bank-rollback-dodd-frank/"},"headline":"President Trump Signs Biggest Rollback of Bank Rules Since Dodd-Frank Act","datePublished":"2018-05-24T17:25:40.000Z","dateModified":"2026-02-23T20:22:58.008Z","description":"President Donald Trump has signed the biggest rollback of financial regulation since the Dodd-Frank Act was enacted in 2010","url":"https://time.com/5290474/trump-bank-rollback-dodd-frank/","keywords":["Banks","Bloomberg","onetime"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt8e6a067585f4faa0/698930b3929fad9dc7bf095d/gettyimages-959587954.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Bloomberg","jobTitle":"Contributor","url":"https://time.com/author/bloomberg/"}],"articleSection":"Politics","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt8e6a067585f4faa0/698930b3929fad9dc7bf095d/gettyimages-959587954.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"President Trump Hosts NATO's Secretary General Jens Stoltenberg At The White House","caption":"President Trump Hosts NATO's Secretary General Jens Stoltenberg At The White House","creditText":"Andrew Harrer—Pool/Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/politics/","name":"Politics"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/banks/","name":"Banks"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/5290474/trump-bank-rollback-dodd-frank/","name":"President Trump Signs Biggest Rollback of Bank Rules Since Dodd-Frank Act"}}]}] ```