Lisa Donner, Executive Director of Americans for Financial Reform, issued this statement in response to Trump’s executive orders on gutting Wall Street reform:

“The Administration apparently plans to turn over financial regulation to Wall Street titan Goldman Sachs, making it easier for Goldman and other big banks like Wells Fargo to steal from their customers and destabilize the economy. That betrays the promises Trump made to stand up to Wall Street, and it will have dire consequences if he’s successful.”

“In fact, the President does not have the authority to overturn laws or tell independent agencies what to do. And it’s flat-out illegal for agencies to change rules by fiat without public input.”