A Financial System That Creates Economic Opportunities Banks and Credit Unions

21/09/2017 | EIFR

A Financial System
That Creates Economic Opportunities
Banks and Credit Unions
U . S . D E P A R T M E N T O F T H E T R E A S U R Y
Report to President Donald J. Trump
Executive Order 13772 on Core Principles
for Regulating the United States Financial System

Introduction
President Donald J. Trump established the policy of his Administration to regulate the United States financial system in a manner consistent with a set of Core Principles. These principles were set forth in Executive Order 13772 on February 3, 2017. This Report is prepared by the U.S. Department of the Treasury, under the direction of Secretary Steven T. Mnuchin, in response to the Executive Order.
This Report, and subsequent Reports, will identify any laws, treaties, regulations, guidance, reporting and record keeping requirements, and other Government policies that inhibit Federal regulation of the U.S. financial system in a manner consistent with the Core Principles.
The Core Principles are:


A. Empower Americans to make independent financial decisions and informed choices in the marketplace, save for retirement, and build individual wealth;
B. Prevent taxpayer-funded bailouts;
C. Foster economic growth and vibrant financial markets through more rigorous regulatory impact analysis that addresses systemic risk and market failures, such as moral hazard and information asymmetry;
D. Enable American companies to be competitive with foreign firms in domestic and foreign markets;
E. Advance American interests in international financial regulatory negotiations and meetings;
F. Make regulation efficient, effective, and appropriately tailored; and
G. Restore public accountability within Federal financial regulatory agencies and rationalize the Federal financial regulatory framework.

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