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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 2017 TREASURYTHEDEPARTMENTOFTHETREASURY178920 17-04151 (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 1 Introduction 3 Review of the Process for This report 3 Scope of This report and Subsequent Reports 4 The Depository Sector 5 Why Alignment of Regulation with the Core Principles is of Critical Importance 6 Summary of Recommendations for Regulatory Reform 10 Background 19 The Depository System 21 The Financial Regulatory Structure 24 Overview of Federal and State Regulato
A Financial System That Creates Economic Opportunities • Banks and Credit Unions iii Table of Contents Executive Summary 1 Introduction 3 Review of the Process for This Report 3
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