August 07, 2017

The amount of penalties that federal regulators have collected from misbehaving financial firms has declined sharply in just the first 200 days of the Trump administration. The immediate reduction amounts to a tangible benefit for Wall Street brokers, courtesy of a President who’s filled his executive offices with former bankers, and has signed executive order to roll back financial regulations. A Wall Street Journal analysis shows that The Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CTFC) and the Financial Industry Regulatory Authority…

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Top House Democrats are calling on the Trump administration to reveal the identities of those behind secretive efforts to deregulate the US economy. The lawmakers sent a letter on Monday to White House aides who oversee the regulatory process. They said the rule-slashing initiatives appear to run afoul of laws on transparency and record-keeping, citing reporting by The New York Times and ProPublica, “We believe the interests of the American public must be paramount when reviewing the worthiness of regulations,” the legislators said. They called for…

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