Reforms, the note said, “will likely come through changes to existing rules as well as the interpretation and application of outstanding regulation.”
The bank, which has seen its own stock rise since the election, suggests
that “about $200 billion of excess capital could be deployed in 2018 as a result of changes in regulatory capital requirements.”
Capital requirements are largely governed by the Federal Reserve, meaning they could be adjusted without congressional approval.
The presidency of Donald J. Trump — the wealthiest businessman to occupy the White House in recent memory — has ushered in a new paradigm, one in which business
and government are married in a way never seen before.
Even if Mr. Trump’s team doesn’t try to change regulations (and they already have, in industries like energy
and telecommunications), they may show little interest in enforcing existing regulations, which, in and of itself, could have a significant impact on the way business is run.
And while there are significant questions about whether their experience in business will translate in Washington — and to the Regular Joe who supported Mr. Trump — their focus on issues
that relate to the economy and their reverence for increasing G. D.P.
“Dodd-Frank’s impact is often overstated.”
The law firm encouraged Mr. Trump to appoint people who have the goal of “countering the prevailing
regulatory philosophy,” meaning they oppose the approach taken under President Barack Obama.
“We are absolutely destroying these horrible regulations
that have been placed on your heads,” Mr. Trump declared on Tuesday in Washington to a group of chief executives representing companies like Citigroup, MasterCard and JetBlue.