A Financial System That Creates Economic …

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A Financial System That Creates Economic OpportunitiesBanks and Credit UnionsA Financial System That Creates Economic Opportunities Banks and Credit DEPARTMENT OF THE TREASURY JUNE 2017TREASURYTHEDEPARTMENTOFTHETREASURY17 892017-04151 (Rev. 1) Department of the Treasury Departmental Offices Financial System That Creates Economic OpportunitiesBanks and Credit DEPARTMENT OF THE TREASURY report to President Donald J. TrumpExecutive Order 13772 on Core Principles for Regulating the United States Financial SystemSteven T. MnuchinSecretaryCraig S. PhillipsCounselor to the SecretaryA Financial System That Creates Economic Opportunities Banks and Credit UnionsiiiTable of ContentsExecutive Summary 1Introduction 3Review of the Process for This report 3Scope of This report and Subsequent Reports 4The Depository Sector 5Why Alignment of Regulation with the Core Principles is of Critical Importance 6Summary of Recommendations for Regulatory Reform 10Background 19The Depository System 21The Financial Regulatory Structure 24Overview of Federal and State Regulators 24Regulatory Structure and Issues of Regulatory Duplication, Overlap, and Fragmentation 28The Dodd-Frank Act 32The Financial Crisis 32Overview o

A Financial System That Creates Economic Opportunities Banks and Credit Unions U.S. DEPARTMENT OF THE TREASURY Report to President Donald J. Trump

  Report