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Dodd-Frank

Senator Gary Peters sits across a table from Stateside host Cynthia Canty.
Michigan Radio

The Trump administration has rolled out its plan to respond to violence and guns in our schools. It wants to provide firearms training to some teachers. But it has backed off on making major changes to gun legislation: For example, there’s nothing about raising the minimum age to buy guns from 18 to 21.

Following the mass shooting at Marjory Stoneman Douglas High in Parkland, Florida, where 19-year-old Nikolas Cruz has admitted killing 17 people, President Trump said he was in favor of raising the minimum age but backed off after meeting with the National Rifle Association.

Image of bronze bull statue on Wall Street
Sam Valadi / http://j.mp/1SPGCl0

Congress is debating whether to get rid of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The act was passed after the Great Recession, in order to tackle problems like banks that were too big to fail, financial groups dealing in sketchy products, and predatory lending. 

Now, Republicans want to do away with Dodd-Frank. 

Wall Street street signs
nakashi / http://j.mp/1SPGCl0

One of President Donald Trump’s top goals is to repeal the Dodd-Frank financial regulations. He calls Dodd-Frank a “disaster.” Trump says many friends of his who have nice businesses can’t get loans because of Dodd-Frank.

There's no dispute about the fact that Dodd-Frank requires better lending standards after all the bad loans that pushed the nation toward the recession. But, banks are lending. The Federal Reserve finds commercial and industrial bank loans are at a record high.