Trump raves that rolling back Dodd-Frank will allow 'friends of mine' to borrow money again

President Trump on Dodd-Frank.
(Image credit: Screenshot/CNBC)

On Friday, President Donald Trump announced his intention to sign an executive order rolling back the Dodd–Frank Wall Street Reform and Consumer Protection Act, with a nod to his friends' "nice businesses."

"We expect to be cutting a lot out of Dodd-Frank, because frankly I have so many people, friends of mine, that have nice businesses, they can't borrow money because the banks just won't let them borrow because of rules and regulations and Dodd-Frank," Trump said.

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Jeva Lange

Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.