The US Treasury Department released this week a
150-page report on how to realign the US financial system
in a way that is consistent with the views of President
Trump’s February 3 executive order.
Most of its findings could be implemented directly by
regulators and bypass Congress altogether, effectively
dismantling much of the Dodd-Frank Act, according to Treasury
Secretary Steve Mnuchin.
The banking industry, which is set to benefit from its
suggested regulatory upheaval, has supported the changes.
Observers suggest that this could - inadvertently or otherwise
- kill off the Financial CHOICE Act, which only passed the
House last week.
The US Treasury Department has released the first of
four reports on how to realign the US financial system in a way
that is consistent with the current
administration’s views on the regulation of the
banking sector. The report is widely supported by the
banks;Observers suggest that