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Speaker 1: Well, I was time for our daily Bloomberg Law mariefe

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Speaker 1: exploring legal issues in the news, and the Law of

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Speaker 1: Grief is brought to you by American Arbitration Association, International

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Speaker 1: Trade or Business Dispute Resolve Faster with the International Center

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Speaker 1: for a Dispute Resolution, the leader in alternative dispute resolution

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Speaker 1: around the world i c d R dot org. Today

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Speaker 1: Bloomberg Law host Greg Store and Michael Best discussed President

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Speaker 1: Donald Trump's executive action order to roll back the Dodd

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Speaker 1: Frank Act. They speak with Robert him, a founding partner

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Speaker 1: at Myers and him tell us what what the significance

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Speaker 1: is of what the President did with regard to the

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Speaker 1: broader Dot Frank Act. Well, the President's intention here is

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Speaker 1: a continuation of his desire to roll back on necessary regulations.

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Speaker 1: The Dodd Frank Act just itself as over twenty two

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Speaker 1: pages of regulations, and President Trump is concerned that the

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Speaker 1: increased costs and the increased procedures that financial institutions were

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Speaker 1: required to follow, uh just diverted so much money into

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Speaker 1: compliance and legal that it essentially created a credit crunch,

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Speaker 1: especially for smaller businesses. And it's been hard for businesses

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Speaker 1: to borrow money and to expand their operations and hire

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Speaker 1: new employees. So President Trump is helpful with the reform

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Speaker 1: of dot Frank that this will allow small businesses to

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Speaker 1: start hiring and to have better access to credit. Well,

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Speaker 1: what specifically about Dodd Frank can he address and you know,

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Speaker 1: together with Congress to try to make things easier on

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Speaker 1: small business. Well, there's a number of things that he

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Speaker 1: can do. UM. One of the things is reforming some

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Speaker 1: of the agencies and new rules that were created and

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Speaker 1: put into place UM to address the compliance concerns. The

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Speaker 1: Consumer Financial Protection Board also as in President Trump's crosshairs,

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Speaker 1: was a new agency that was created under the Dodd

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Speaker 1: Frank Act. One chord in Washington is actually already held

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Speaker 1: it to be unconstituted l UM, but that was a

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Speaker 1: new agency that was created that also generated new regulations

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Speaker 1: that financial institutions had to comply with. And I think

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Speaker 1: President Trump which is very concerned with the growth and

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Speaker 1: amount of new regulations coming out, particularly on smaller financial institutions.

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Speaker 1: As Robert him, a founding partner at Myers and him

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Speaker 1: speaking with the Bloomberg LA host Gregg Store and Michael Best,

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Speaker 1: you can listen to Bloomberg Law weekdays at one pm

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Speaker 1: Wall Street Time here on Bloomberg Radio. Among the top

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Speaker 1: legal stories from Bloomberg Law, Johnson and Johnson Unit is

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Speaker 1: being sued over leaking breast implants. The lawsuit, filed in California,

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Speaker 1: says the implants are causing health problems for some women,

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Speaker 1: including muscle pain and nausea. It also accuses jan Ja's

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Speaker 1: Mentor Worldwide unit failing to conduct proper studies on health

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Speaker 1: risks of its implants. Jan Jay hasn't commented. Morgan Stanley

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Speaker 1: wealth manager, has been charged with stealing five million dollars

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Speaker 1: from a wealthy family. A government complains says that Mary

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Speaker 1: Franklin Cornell us the money to fund an extravagant lifestyle

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Speaker 1: that included private jets, country club membership, and a home

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Speaker 1: near Las Vegas. Morgan Stanley says it has been cooperating

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Speaker 1: with authorities. Chicken farmers are suing some of the country's

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Speaker 1: biggest poultry producers. The suit claims they conspired with each

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Speaker 1: other to hold down competition. The company is named in

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Speaker 1: the suit include Tyson Foods, Pilgrim's Pride Status and Farms,

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Speaker 1: Produe Farms, and Coke Foods. Tyson's says the allegations are

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Speaker 1: false and as this morning's Bloomberg Law Brief. You can

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Speaker 1: find more illegal news at Bloomberg law dot com and

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Speaker 1: Bloomberg b NA dot com. Attorneys will find exceptional legal

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Speaker 1: research and business development tools there as well. Visit Bloomberg

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Speaker 1: Law dot com and Bloomberg b NA dot com for

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Speaker 1: more information