TOO BIG TO… WHAT? Donald Trump Plans to Undo Dodd-Frank Law, Fiduciary Rule.

Mr. Trump will use a memorandum to ask the labor secretary to consider rescinding a rule set to go into effect in April that orders retirement advisers, overseeing about $3 trillion in assets, to act in the best interest of their clients, Mr. Cohn said in the White House interview. He said the rule limits consumer choice.

Mr. Trump also will sign an executive order that directs the Treasury secretary and financial regulators to come up with a plan to revise rules the Dodd-Frank law put in place.

Mr. Cohn said the actions are intended to pave the way for additional orders that would affect the postcrisis Financial Stability Oversight Council, the mechanism for winding down a giant faltering financial company, and the way the government supervises big financial firms that aren’t traditional banks, often referred to as systemically important financial institutions.

“This is a table setter for a bunch of stuff that is coming,” he said.

The changes Mr. Cohn described are sure to face a fight from consumer groups and Democrats, who say postcrisis regulations are protecting average borrowers and investors from abusive practices, while making the financial system more resilient and bailouts less likely.

I’ve often said that Dodd-Frank officiated the shotgun marriage between Washington and Wall Street. The divorce, if there’s to be one, promises to be bitter, messy, and perhaps very expensive.