The 2,300 page-long legislation has been accused in some quarters of being over-complicated, for hampering the ability of banks to aid an economic recovery and also for not radically addressing the "too-big-to-fail" issue of banks that become so large that they must be bailed out in the event of trouble. Trump is said to be demanding a wholesale review, and possible repeal, of this legislation.

In a note late last week, Kroll said it supports reform to the so-called "Volcker Rule" of Dodd-Frank, for example. This refers to the part of the Dodd–Frank Act originally proposed by former Federal Reserve Chairman Paul Volcker to restrict US banks from making certain kinds of speculative investments for their own accounts. The rule addresses the conflict of interest that arises when a bank acts on behalf of a customer, on the one hand, and trades for its own account, on the other. Kroll said it supports this rule but

Kroll said it thinksk the basic goal of the Volcker Rule remains sound, but called simplification of the "byzantine" requirements of the rule. "The process for implementing and reviewing compliance with the Volcker Rule is excessively complex, costly, and burdensome for banks," it said in a note.

Also, Kroll said in contrast to the present situation, affiliates of bank holding companies should be able to trade for their own accounts. "Given adequate safeguards to isolate the depository from conflicts between the duty to the customer and the organization, allowing broker-dealers and other affiliates to trade for their own accounts will alleviate the market liquidity concerns that have existed since the Volcker Rule was implemented," it said.

Meanwhile, Kroll said the largest change for financial services is that policymakers are moving to a pro-growth agenda and away from punishing the sector.

"By easing the political headwinds against banks and non-banks alike, the Trump administration can greatly improve liquidity in the financial markets and enhance the opportunities for economic growth," it said.
 
"An important point to make regarding the regulatory response to the 2008 crisis is that a lack of liquidity, not capital, was the proximate cause of the catastrophe. Yet since 2008, regulators and policymakers have focused on increased capital for banks and restrictions on risk taking as a general panacea for preventing a future crisis," it continued.

"In general, KBRA believes that modifications to the Dodd-Frank law that lessen the regulatory burden but address the underlying causes of the crisis will be positive for investors. Any changes to the current regulatory system need to de-emphasize the mechanistic use of capital as a catch-all response to the financial crisis and instead construct policies to prevent the reoccurrence of acts of financial deception, particularly the use of hidden leverage to enhance short-term financial returns, that ultimately caused the 2008 financial crisis to occur in the first place," it added.