Former Citigroup CFO Sallie Krawcheck on Dodd-Frank, Banking Sector's Rally

Be wary of the rally in the financials sector since the election of Donald Trump in November. "What is fascinating to me, counterintuitive to me and strange to me is stocks are going up because of an expectation of a roll back in Dodd-Frank," said former Citigroup (C) - Get Report CFO Sallie Krawcheck, now CEO of Ellevest. The S&P 500 financials sector is up over 10% since November 9, the day after Trump's presidential win. According to Krawcheck, parts of Dodd-Frank had nothing to do with the financial crisis, like regulation on interchange fees. But she said proprietary trading isn't good for shareholders and that was addressed in the law via the Volcker Rule, which limits a bank's ability to invest its own money in the markets.