Treasury secretary nominee Steve Mnuchin: Undoing Dodd-Frank “top priority”
In an interview with CNBC (video below) on Wednesday that also included Commerce Secretary nominee Wilbur Ross, Mnuchin revealed his thoughts on the Dodd-Frank Wall Street Reform Act.
The act is already in the spotlight right now since shortly after Trump became president-elect, he released a plan to dismantle Dodd-Frank.
During the interview, Mnuchin said, “The No. 1 problem with Dodd-Frank is it is way too complicated and it cuts back lending.”
“We want to strip back parts of Dodd-Frank that prevent banks from lending and that will be the No. 1 priority on the regulatory side,” he told CNBC.