The president is essentially asking regulators to reverse a 2018 law – without legislation.
Within days of taking office, Trump promised to do ‘a big number’ on the landmark bank regulatory law and the following year boasted of having kept that pledge.
The former Maryland congressman has plowed his personal fortune into a long-shot presidential run.
Lawmakers have passed a bill to roll back regulations adopted after the 2008 financial crisis.
The Trump administration is headed to court over its attempt to override the process for naming a new head of the Consumer Finance Protection Bureau.
The move sets up a critical battle over who will keep banks in line.
Republicans overturned a consumer protection rule that allowed class-action lawsuits against banks.