President Donald Trump on Friday plans to order a review of key financial rules — less than three months after he directed an even broader examination of Wall Street regulations.
Trump will send a signal that two important regulatory powers adopted in the wake of the financial crisis are in the crosshairs, along with tax rules put out by the Obama administration last year.
Yet none of the executive actions will have an immediate, tangible impact on any rules. They are the latest in a series of moves to assuage executives and lawmakers impatient over the slow pace of deregulation and tax relief. They also come as the administration is trying to rack up victories before the end of the president’s first 100 days in office.
Trump will sign two presidential memos, according to a White House offical. One will direct Treasury Secretary Steven Mnuchin to examine the government’s so-called orderly liquidation authority to wind down failing megabanks outside of bankruptcy court.
It’s a power that Republicans have pressed to eliminate because they say it enshrines taxpayer bailouts. Proponents, including banks themselves, argue that the…