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At the same time, congressional Republicans opened their own front against the Dodd-Frank Act, the law that overhauled financial regulation after the 2008 financial crisis. And with Mr. Trump in the White House, Republicans who previously challenged Dodd-Frank now see success in their sights after years of futility.
Imagine trying to digest all that before you even open your doors for business. That doesnât help consumers. What it does is destroy small business in favor of big businesses who can afford the vast number of lawyers and accountants needed to comply. Dodd-Frank is consumer protection for billionaires. He nailed it. The Dodd-Frank Wall Street Reform and Consumer Protection Act did not reform Wall Street, and it did far more to protect billionaires and entrenched incumbent firms than it did to protect the little guy.