President Trump has acknowledged that his plans to dismantle the Dodd-Frank financial reforms are inspired, in part, by a desire to help his banking friends. Dodd-Frank is a set of financial reforms implemented after the 2008 financial crisis. This is Trump speaking at a dinner that included JPMorgan Chase CEO Jamie Dimon on Friday.

President Donald Trump: “We have some of the bankers here. There’s nobody better to tell me about Dodd-Frank than Jamie. So, you’re going to tell me about it. But we expect to be cutting a lot out of Dodd-Frank, because, frankly, I have so many people, friends of mine, that have nice businesses, they can’t borrow money. They just can’t get any money, because the banks just won’t let them borrow, because of the rules and regulations.”