Blog: Trump winding back banking regulation laws was a ‘terrible mistake’ – Sky News Australia

Labor MP Andrew Charlton has labelled a move by Donald Trump to wind back banking regulation and supervision laws during his presidency as a “terrible mistake”.

Mr Charlton blamed the “unfolding crisis” in the United States banking system on the former president’s decision.

“That was the Dodd-Franc Act and Donald Trump wound that back for precisely the types of smaller and regional institutions that are now getting into trouble,” Mr Charlton told Sky News host Sharri Markson.

“That was a terrible mistake; it failed to learn the lesson of the global financial crisis.”

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