Not knowing costs money. Bank business models may need to be revamped if big changes are made, and whenever a dramatic revamp is brewing, the firms spend a lot on legal advice and lobbying.

When Trump has talked about Wall Street and the hedge fund industry, he’s bashed them, which has gone over well with his supporters. He ran an ad in his campaign’s final days, for instance, that featured Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein as a representative of the corporations that Trump says have pocketed the wealth that American workers have lost. And he’s accused hedge fund managers of “getting away with murder” on paying taxes.

Yet, he tapped hedge fund managers and financiers as advisers, including making Steven Mnuchin, a former Goldman Sachs executive who founded hedge fund Dune Capital Management, his finance chairman. His economic advisory council includes John Paulson, a billionaire hedge fund manager, and Stephen Feinberg, CEO of private-equity firm Cerberus Capital Management.

In broad terms, the financial sector has historically counted on Republicans to give its policy goals a friendly ear. But the financial crisis made that bond much more tenuous. Hearings on Capitol Hill these days, such as those focusing on Wells Fargo & Co.’s bogus account scandal, are as likely to feature GOP criticism of banks as attacks from Elizabeth Warren.

A Businessman

Still, Trump is a businessman. He seems to distrust regulation, and bankers likewise feel the government has gone too far in the wake of the crisis. The industry can probably count on Trump to appoint less-aggressive leaders to agencies like the Securities and Exchange Commission.

But an even greater uncertainty will be whether the government outsider will sign off on legislation pushed by Republican lawmakers. A single party hasn’t controlled both Congress and the White House since the first two years of Barack Obama’s presidency. That’s the period that led to the passage of both Dodd-Frank and Obamacare. With Republicans retaining control of Congress, Trump has the pieces in place for a real legislative push.

Will he use legislation introduced earlier this year by House Financial Services Chairman Jeb Hensarling as a template? Hensarling, a Texas Republican, wants to tear up core sections of Dodd-Frank, including the Volcker Rule ban on certain bank investments and government powers to take apart failing financial firms.

Will Trump similarly allow the possible future Senate Banking chairman, Mike Crapo, to get his way? Lobbyists and Capitol Hill staff expect Crapo to overhaul the status of mortgage-finance giants Fannie Mae and Freddie Mac and make revisions to Dodd-Frank, including narrowing the list of banks subject to its toughest rules.

Befuddling Pledges