Trump Adds Prominent Regulation Critic to Finance ‘Landing Team’
Alex Pollock, a prominent critic of financial regulations, will serve as the point person on issues relating to the Financial Stability Oversight Council for the incoming administration, President-elect Donald Trump’s transition team announced on Tuesday.
Pollock, a Chicago-based distinguished fellow at the free-market R Street Institute, will also oversee the transition’s “landing team” at the Federal Trade Commission. He’s considered a Dodd-Frank critic, and in July he testified before the House Financial Services Committee, where he spoke favorably about the GOP plan to repeal the 2010 law and give banks regulatory relief if they meet a legally prescribed capital requirement.
Pollock opposes reinstating a version of the now defunct Glass-Steagall Act, which required a separation of banks’ investment and commercial functions. During the general election, Trump and the GOP policy platform called for a return to Glass-Steagall.
In addition to Pollock, the transition named members of landing teams for other financial regulatory agencies.