WASHINGTON (Reuters) - U.S. President Donald Trump said on Tuesday that his administration is working on changes to Dodd-Frank banking regulations that will make it easier for banks to loan money.

“We’re going to be coming out with some very strong - far beyond recommendations - we’re going to be doing things that are going to be very good for the banking industry so that the banks can loan money to people who need it,” Trump told a meeting with a business leaders from the New York area at the White House.

“We’re going to do a very major haircut on Dodd-Frank. We want strong restrictions, we want strong regulation. But not regulation that makes it impossible for the banks to loan to people that are going to create jobs,” Trump said.