Here’s what everybody is getting wrong about changes to banking rules

CNBC discusses repealing the Dodd-Frank Act with John Berlau. 

While Trump can roll back some measures through executive order, there are other provisions that will have to go through the same legislative process that created the law. The president can’t simply void a law he doesn’t like. Bottom line: major changes to the financial industry are going to take time.

“The promises have been to simplify Dodd-Frank. It will probably be difficult to repeal it,” said John Berlau, senior fellow at the Competitive Enterprise Institute, a libertarian think tank. “What has been discussed is to make the playing field a little bit more even” between large institutions and smaller ones.

Read the full article at CNBC