FinReg Reform Steps Continue: Treasury Report and CHOICE 2.0
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- On June 12, 2017, the U.S. Department of the Treasury issued a report setting out a series of recommendations for revisions to the U.S. bank regulatory framework in response to President Trump’s Executive Order on “Core Principles” for financial regulation.
- The report is notable because it suggests a measured approach that would leave key pillars of post-financial crisis reforms in place, but recommends a number of important changes that, if adopted, could materially streamline various regulations and processes.
- This Client Update summarizes the recommendations made by the Treasury Department and, in an accompanying table, compares the recommendations to the Financial CHOICE Act passed by the House of Representatives on June 8, 2017.