Executive Order 13772, titled "Core Principles for Regulating the United States Financial System", is an executive order signed by U.S. President Donald Trump on February 3, 2017. The eighth executive action by the president during his first 100 days in office, it establishes the "core principles" of regulation under the Trump Administration and tasks the United States Department of the Treasury to review the Financial Stability Oversight Council, originally established under the Dodd–Frank Wall Street Reform and Consumer Protection Act, and report to the President in 120 days on current regulations and their effectiveness in carrying out these core principles. President Joe Biden revoked the order on February 24, 2021. Background The Dodd–Frank Wall Street Reform and Consumer Protection Act, also known as simply Dodd–Frank, is a series of laws that enacted significant financial regulation reform, as a response to the Great Recession. It was signed into law by then-U.S. President Barack Obama in July 2010, marking the occasion with the promise that "the American people will never again be asked to foot the bill for Wall Street's mistakes – there will be no more taxpayer-funded bailouts. Period." Among many provisions, such as numerous amendments to previous legislation, introductions of new regulations, and reforms of Government agencies such as the U.S. Securities and Exchange Commission, Dodd-Frank also established the Financial Stability Oversight Council and the supporting Office of Financial Research, which aims to identify threats to the financial stability of the United States. In the years following its enactment, Dodd–Frank had been described as a success by some financial analysts and the act's original creators. Supporters of the act said that the regulations had a positive impact on the financial sector, citing a decrease in the share of consumer deposits and profits held by large banks such as JPMorgan Chase and Bank of America, allowing for more competition in the industry. Economist Paul Krugman, for instance, wrote in 2014 that the act was working, and praised the Consumer Financial Protection Bureau and the Act's creation of regulatory Ordinary Liquidation Authority (also called resolution authority), which allows regulators in a crisis situation to save "systemically important" banks and other financial institutions without a bailout. Since its inception, congressional Republicans have opposed Dodd-Frank. On the campaign trial, Republicans "repeatedly invoked the law's 848-page girth — and its rules on, among other things, trading derivatives and swaps — as a symbol of government