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US Treasury unveils sweeping plan to upend financial regulatory framework

The plan has been criticised as a handout to Wall Street and a dangerous one for US consumers

Reuters 

The US Treasury Department unveiled a sweeping plan on Monday to upend the country's financial regulatory framework, which, if successful, would grant many items on Wall Street's wish list. The nearly 150-page report that suggested more than 100 changes, most of which would be made through regulators rather than Congress, Treasury Secretary Steven Mnuchin said in an interview. "We were very focused on, what we can do by executive order and through regulators," he said. "We think about 80 percent of the substance in the report can be accomplished by ...

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First Published: Tue, June 13 2017. 17:47 IST
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