Re Dodd Frank
OK, I'm not an expert on US regulation, but I work in FS in the UK (I'm an actuary) so have a fair understanding of FS regulation, economics, risk management, etc.
AFAIK, the Dodd Frank act is a pretty significant piece of legislation. Here's a summary - it's 28 pages.
A few things it covers:
-Creation of an overall body to oversee financial institutions
-extra rules around companies classed as "too big to fail" (like RBS was in the UK)
-Generally overhauled the various bodies regulating financial services
-changed the rules around disclosure and reporting for asset backed securities (if you're not familiar, these were a huge issue in the credit crunch, happy to explain if anyone wants me to!) along with credit risk retention
-prevents banks from being personally invested in hedge funds (reducing the risk they are allowed to take to try and make profits)
-forcing some derivatives trades to go through clearing houses which increases transparency and reduces counterparty risk
-Regulates hedge funds
-contains a bunch of consumer protection legislation around fees and disclosure
-Regulation of insurance companies (AFAIK, US insurers are not as heavily or prudently regulated as UK ones, but I am happy to be corrected) including recent changes for more prudent supervision of the biggest, most systematically important companies.
In other words, is a massive minefield of legislation. Big regulatory changes are a nightmare, they cost a fortune to implement (both for the government and for the companies), and they generally make a crapload of money for consultants! Of course if he's just reducing regulation that will be simpler but I would not trust Trump to have the faintest idea about ensuring an insurance company maintains sufficient capital reserves and such like. He's a blundering idiot! There's a very good reason for strong regulation of financial services companies.