June 12, 2017

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FSR Statement on Treasury Report to Modernize Financial Regulations

Today’s report is an important step towards modernizing America’s financial regulatory system so both economic growth and consumer protection are advanced.

FSR Statement on Treasury Report to Modernize Financial Regulations
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FSR Statement on Treasury Report to Modernize Financial Regulations

 

WASHINGTON — The Financial Services Roundtable (FSR) released the statement below today in response to the Treasury Department issuing a report regarding the need to improve regulations relating to depository institutions. The report responds to an Executive Order signed by President Trump.

“Today’s report is an important step towards modernizing America’s financial regulatory system so both economic growth and consumer protection are advanced,” said FSR CEO Tim Pawlenty.

In its report, the Treasury Department discussed several FSR member priorities, including: reforming prudential regulatory requirements; clarifying the Volcker Rule; using the Financial Stability Oversight Council to better harmonize regulatory activities; and increasing the transparency of stress testing and capital planning exercises.

The Treasury Department is expected to release at least three additional reports later this year that will recommend important policy proposals for other sectors of the financial industry.

On June 15th, FSR will host an event featuring Congressman Blaine Luetkemeyer (R-MO) as well as industry and policy thought leaders to discuss the Treasury Department’s recommendations. You can register here.

 

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About The Author

The Financial Services Roundtable represents the largest integrated financial services companies providing banking, insurance, payment and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. FSR member companies provide fuel for America’s economic engine, accounting for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.

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