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Watch: Trump signs bank bill after canceling summit with North Korea leader Kim Jong Un

Key Points
  • President Donald Trump on Thursday is set to sign into law the most significant rollbacks to financial regulations since the financial crisis.
  • The legislation eases regulations on small- and mid-sized banks and significantly raises the level at which a bank is considered too big to be allowed to fail.
  • The regulations were applied in the Dodd-Frank bill after the financial crisis of the last decade.

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President Donald Trump on Thursday is set to sign into law the most significant rollbacks to financial regulations since the financial crisis.

Those regulations were applied in the Dodd-Frank Act in 2010, in the wake of the financial crisis and subsequent recession of the last decade.

The bill overcame its final hurdle on Tuesday, passing the House of Representatives with some Democratic support. Trump said he would sign the bill in a tweet Wednesday.

The legislation eases regulations on small- and mid-sized banks, and significantly raises the level at which a bank is considered too big to be allowed to fail. It also removes certain checks on financial institutions designed to help spot future crises, among other changes.

The bill signing arrives shortly after Trump canceled a summit with North Korean leader Kim Jong Un planned to be held in Singapore in June.