The future of banking reform was hardly the sort of issue which raised the pulse rate of the millions of pick-up driving, flag-waving voters who swept Donald Trump to victory.

Yet the future of the Dodd-Frank Act is one of the most important decisions facing the next president.

Signed by Barack Obama in 2010, the Act had been introduced by the president as a “sweeping overhaul of the United States financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression”.

Now, with the dust barely settled from a scandal involving Wells Fargo opening unauthorised customer accounts, the jostling has started, with supporters of the Act arguing it shows the need for tighter controls over the banking industry, while opponents say the debacle shows that the regulators were completely ineffective.

The Trump transition team has made clear that the Act is in its sights. It sees the legislation as stifling the investment America needs to breathe life into the economy.