The U.S. Department of Treasury (the “Treasury Department”) issued a report titled A Financial System That Creates Economic Opportunities (Banks and Credit Unions) on June 12, 2017 (the “Treasury Report”), outlining modifications of laws and regulations affecting banks, credit unions and other depository institutions. The Treasury Report was mandated by an executive order, signed by the president on February 3, 2017, calling for a report from the Treasury Department on financial regulatory reforms that should be put in place. The report comes in the wake of the U.S. House of Representatives voting along party lines to approve the Financial CHOICE Act (“FCA”) on June 8, 2017.

Provisions of the Treasury Report that are relevant to the FCA are here.