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Rhetoric begins to shift to regulatory easing

Joe Mont | August 1, 2017

July 2017 closed with an expected deluge of regulatory rhetoric which showed, at long last, where the Trump administration is slowly starting to mold existing rules to its liking.

Near the end of the month, Treasury Secretary Steven Mnuchin testified before the House Financial Services Committee, delivering the annual report of his agency’s activities for the first time.

The grilling he received from Committee members, as expected, frequently wandered away from ideas regarding regulatory reform to questions of the Trump Administrations’ financial ties, Russian sanctions, and, of course, the attempted repeal of the Affordable Care Act.

Mnuchin, despite numerous testy exchanges, managed to put a personal touch on regulatory reforms the Treasury Department has committed to.

He agreed with Chairman Jeb Hensarling (R-Texas) that he “very much deplores” what is happening to community banks and credit unions, putting tailored regulations at the top of his list... To get the full story, subscribe now.