Former central banker warns of danger in US regulatory rollbacks

Peter Oakes has said Irish banking needs to exercise caution after Trump's Dodd-Frank comments

5th February, 2017
Former Central Bank director Peter Oakes

Former Central Bank director Peter Oakes has said Irish banking needs to exercise caution after US president Donald Trump ordered reviews of major banking rules that were put in place after the 2008 financial crisis.

This review includes the Dodd-Frank Wall Street reform law that raised capital requirements for banks to prevent excessive lending. “We’re going to be doing a big number on Dodd-Frank,” Trump said last week.

Oakes, a banking expert...

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