WASHINGTON — The presumptive Republican presidential nominee Donald Trump pledged Tuesday to roll back regulations and accused rival Hillary Clinton of being beholden to Wall Street.
"We will make America the best place in the world to start a business … we will get rid of these horrible regulations that make it impossible to do business in this country," Trump said during an economic policy speech in Monessen, Pa.
Trump's call for deregulation aligns with recent GOP proposals to limit the power of regulators, including legislation by House Financial Services Committee Chairman Jeb Hensarling, R-Texas, that would replace the Dodd-Frank Act.
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Donald Trump's campaign claimed that while Sen. Elizabeth Warren, D-Mass., has criticized the New York real estate businessman for taking contributions from Wall Street, Hillary Clinton has accepted more than $41 million from "Wall Street interests."
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Large banks are gaining momentum as regional banks stall in the annual American Banker/Reputation Institute Survey of Bank Reputations. Chase even barreled its way into the top 10 of the customer ranking.
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WASHINGTON Sen. Elizabeth Warren, D-Mass., slammed a House GOP bill to reform financial regulation on Thursday, arguing it is being misrepresented by its author, Financial Services Committee Chairman Jeb Hensarling.
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While many bankers would like to eliminate Dodd-Frank, Clinton — who has vowed to defend the law — remains the primary beneficiary of campaign contributions from the financial services industry.
"Hillary Clinton and her friends in global finance want to scare America into thinking small — and they want to scare the American people out of voting for a better future," Trump said in his speech, denouncing Clinton's support of the Trans-Pacific Partnership. "The TPP creates a new international commission that makes decisions the American people are no longer given the right to veto. These commissions are great for Hillary's Wall Street funders, who can spend vast amounts of money to influence the people on the commissions and the outcomes."
Trump's criticism of Clinton's Wall Street ties and campaign contributions came a day after Sen. Elizabeth Warren, D-Mass., made a similar argument against Trump.
"Donald Trump believes poor, sad little Wall Street bankers need to be free to defraud anyone they want," Warren said Monday while campaigning alongside Clinton in Cincinnati.
Clinton has promised to expand regulation to include the "shadow bank" sector, including hedge funds and nonbanks.
Sen. Bernie Sanders, D-Vt., who has yet to suspend his own presidential campaign, said Dodd-Frank did not go far enough, and on the campaign trail he has been critical of Clinton's Wall Street ties.
Trump latched on to Sanders' debate talking points during his speech Tuesday, saying, "The people who rigged the system are supporting Hillary Clinton because they know as long as she is in charge, nothing is going to change."
