Treasury report could spell end of CHOICE Act

Author: John Crabb | Published: 16 Jun 2017

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.

KEY TAKEAWAYS

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 this...


 

 

close Register today to read IFLR's global coverage

Get unlimited access to IFLR.com for 7 days*, including the latest regulatory developments in the global financial sector, updated daily.

  • Deal Analysis
  • Expert Opinion
  • Best Practice

register

*all IFLR's global coverage published in the last 3 months.

Read IFLR's global coverage whenever and wherever you want for 7 days with IFLR mobile app for iPad and iPhone

"The format of the Review has changed over the years; the high quality of its substantive content has not."
Lee C Buchheit, Cleary Gottlieb

register