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U.S. President Donald Trump will sign executive orders on Friday to review the Dodd-Frank Wall Street reforms and halt a Labor Department rule designed to curb potential conflicts among brokers who give retirement advice, according to a senior White House official. Trump's move marks a step toward making good on a campaign promise to dismantle the 2010 Dodd-Frank law, which was passed in the wake of the 2007-2009 financial crisis. Earlier this week during a meeting with business owners, Trump described the Wall Street reform law as "a disaster." The official said the Dodd-Frank executive order will ask the Treasury secretary to work with other regulators to determine what the administration can do to fix issues with measures issued under the 2010 Dodd-Frank Wall Street reform law. "There are quite a few things that we could do on Dodd-Frank ... that we think will have fairly immediate and dramatic impact," the official told reporters at a briefing on Thursda

U.S. President Donald Trump on Friday will direct the Labor Department to delay implementation and review a rule designed to prevent conflicts of interest when advisers give retirement advice, a senior White House official said. "We think that they have exceeded their authority with this rule and we think this is something that is completely overreaching," the official told reporters at a briefing on Thursday. Trump has pledged to sharply reduce U.S. regulations, which he says have harmed American businesses. The retirement advice rule was issued by the Obama administration and was set to take effect in April. It has been staunchly opposed by the financial services industry. Opponents of the rule argued that the rule would result in high costs that will ultimately make small accounts unprofitable. While some lawsuits were filed against the rule, companies like Bank of America Corp's Merrill Lynch and Morgan Stanley had announced plans to cooperate with the rule. The