Well the Repubican-controlled House did in fact pass HR 10 yesterday, which purports to repeal the Volcker Act and completely gut the Consumer Protection Agency, ditch some toolsets meant to enable safe unwinding of a failing big bank, etc. HR 10 is a nasty piece of legislation in detail, which the GOP talking points have glossed over by talking about how it will restore competition in community banking and also let Main Street banks operate with less red tape... The Senate, in its not-quite-wide-enough majority wisdom. has already telegraphed that this bill is DOA on their side of the Congress. They'd need 8 Democratic votes they would not be able to round up. Still it's enlightening to keep track of the ways in which the Republicans and Trump are trying to interpret what means "drain the swamp". https://www.thenation.com/article/republicans-cant-really-repeal-dodd-frank/ Even the White House, in its statement of support for the CHOICE Act, concluded by writing “the Administration looks forward to working with the Senate on arriving at a final piece of legislation,” admitting that the bill as it is won’t reach the finish line. Further, not all investment bankers even favor the idea of gutting Dodd-Frank entirely and "starting over" with new regulations. Doubtless because this administration would start over by having zero regulations, which, as Morgan Stanley's CEO James Gorman says, "Americans don't want." He stipulates there are parts that seem too onerous or that have had some unintended consequences but rejects the idea of complete repeal, noting that Dodd Frank's toolbox is part of a series of measures installed over a forty-year period that have helped the US financial system lay claim to what stability it has. https://www.bloomberg.com/news/vide...-says-he-doesn-t-want-dodd-frank-repeal-video An opinion of HR 10 from a fellow at the liberal think tank Roosevelt Institute, for those interested: https://mobile.nytimes.com/2017/06/09/opinion/the-gop-plan-to-unleash-wall-street.html No one should think the idea of repeal is dead, and there are likely to be some piecemeal legislative efforts before 2018 to reduce financial regulations that protect consumers. Some of them may pass. Stay tuned.