WASHINGTON — President Donald Trump on Thursday signed into law a measure that loosens key restraints for banks imposed after the 2008 financial crisis and Great Recession.

The Republican-crafted bill passed Congress on Tuesday with the help of some Democratic votes and allowed Trump to fulfill his campaign pledge of dismantling the landmark Dodd-Frank law. The 2010 law was enacted by President Barack Obama and Democrats in Congress in response to the crisis that brought millions of lost jobs and foreclosed homes, and a taxpayer bailout of hundreds of billions for banks on Wall Street and beyond.

The law makes a fivefold increase, to $250 billion, in the level of assets at which banks are deemed to pose a major threat if they fail.