Trump signs bill rolling back portions of Dodd-Frank Act — live updates

President Trump is signing a bill to roll back some Dodd-Frank regulations Thursday, in his first appearance since he wrote to North Korean leader Kim Jong Un to cancel their June 12 summit.

“Sadly, based on the tremendous anger and open hostility displayed in your most recent statement, I feel it is inappropriate, at this time, to have this long-planned meeting,” the president wrote to Kim. “Therefore, please let this letter serve to represent that the Singapore summit … will not take place.”

The Economic Growth, Regulatory Relief, and Consumer Protection Act, among other things, reduces the number of banks considered to be “systemically important” financial institutions by quintupling the asset threshold from $50 billion to $250 billion. Smaller banks will also be relieved of some of the Volcker Rule proprietary trading restrictions under the measure.

The bill was passed by the House on Tuesday, after the Senate passed its version in March. 

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