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Article snippet: WASHINGTON — The Trump administration called for the neutering of many of the central provisions of the Dodd-Frank Act as it offered its most detailed plans to date for the unraveling of the financial regulations put in place after the 2008 financial crisis. In a report released late Monday, the Treasury Department said the Volcker Rule, which bans banks from trading for their own gain, and it called for rules to be revised to give small community banks relief from regulatory scrutiny such as stress tests. “Properly structuring regulation of the U.S. financial system is critical to achieve the administration’s goal of sustained economic growth and to create opportunities for all Americans to benefit from a stronger economy,” said Steven Mnuchin, the Treasury secretary. The recommendations were written with an eye toward easing regulations imposed on community banks and all but the largest credit unions after the financial crisis. President Trump asked for the report in February, giving the Treasury Department the authority to restructure major provisions of the Dodd-Frank law, which was passed in 2010. His order directed Mr. Mnuchin to take steps to ensure that the law aligns with the administration’s goals. While the Trump administration cannot roll back the law on its own, the law does give the president broad authority to determine how its rules are executed. Mr. Mnuchin said at a congressional hearing on Monday that the administration could implement many of ... Link to the full article to read more