Formal plans and discussion on part of Trump regarding Dodd – Frank and potential replacements began as early as June 2016 , when Trump met with Congressman Jeb Hensarling , chair of the House Committee on Financial Services , to discuss alternatives to the act . During the presidential campaign , both Trump and campaign chairman were open to the idea of reinstating the Glass – Steagall Act , a provision of the 1933 Banking Act signed by President Franklin D. Roosevelt that placed tight restrictions on the banking industry , such as the prohibition of bank sales of securities , and the appropriation of funds for banks through the Federal Reserve System . The act was originally introduced to restore public confidence in the banking system after the Great Depression , however , a majority of the provisions were repealed by the Clinton Administration in 1999 through the Gramm – Leach – Bliley Act , following a decades-long decline in support among economists , businessmen , and politicians who did not find the restrictions to be productive . While formal plans to reintroduce the act were not made , Trump stated that a " 21st century " Glass – Steagall Act would " help African American businesses get the credit they need . " Delegates at the 2016 Republican National Convention voted to include a repeal of Dodd-Frank and a revival of Glass-Stegall as part of the party 's platform for the 2016 elections , and Republican Party congressmen have since supported it
2016 Republican National Convention
2016 Republican National Convention
Executive Order 13772