The Treasury Department published its fourth and final report in response to President Trump’s 2017 Executive Order that established core principles for U.S. financial regulation.  The highly anticipated report addresses the U.S. financial regulatory approach to nonbank financial institutions, financial technology, and financial innovation and includes recommendations for Congress and federal and state regulators that are designed to accelerate innovation and “promote economic growth, while maintaining strong consumer and investor protections and safeguarding the financial system.”

A challenge with producing a report on “Fintech” is that the term covers a wide range of business models and technologies as well as a patchwork of U.S. federal and state regulatory frameworks.  Treasury’s report rises to this challenge.  It covers a broad range of topics in a manner that is easy to read and provides both general and specific recommendations that are sensible and thoughtful.  In the coming weeks, we expect to publish a series of short blog posts covering a subset of these topics.  In the meantime, we link to Treasury’s helpful fact sheet (only four pages), and the full report.  For those who prefer to read endings first, here is a link to the chart of recommendations in Appendix B of the report.

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