The Thriving Investor Success With Investing
It has come to notice that the U.S. Treasury department will bring out a report on regulations concerning the finances of the country. Perceive as a major step the governmental body it appears is not expected to project enforcement groups in a favorable way.
In February of 2017, President Donald Trump passed a decree in accordance with which the Treasury is required to peruse financial laws. In the sphere of economics there are a set of seven guidelines which are a perquisite. It is the duty of the
Treasury to see if these ideas are being successfully implemented. The seven
guidelines cater to monetary growth and tax laws.
Trump brought into being this order as he is hopeful that it result in regulations being put in place once more. This is seen as his first step in cutting down the powers of
the Dodd-Frank Act.
According to the report while there may not be a complete removal of the Dodd-Frank act there could be a few changes. There will be new proposals which could see the act
changed. This, however, would mean that there should be legislation. Also, there should be a proposal to bring about a change in the existing regulations.
It is interesting to note that some quarters are all for scrapping the Dodd-Frank act. The Housing of Representatives voted in favor of doing away with the aforementioned act. This received more support from a member of the Financial Services Committee Maxine Waters, D-N.Y. who has clearly stated that the survival of the bill is unlikely, furthermore it will never be allowed in the house of law.
Reducing the power of the regulations seems to be big part of Trump’s plans. This is not the order he has issued which deals with a similar matter. He has been at it as he has said that for all the new regulations passed there must be two that will be removed. He had also made a pledge to do away with 75% of regulations.
According to Fox News the report will pejoratively view the Consumer Financial Protection Bureau and is all for the bureau losing any authority so that the financial reform could be brought into being.
For more information check out the full article here: https://www.housingwire.com/articles/40394-treasury-report-expected-to-recommend-stripping-cfpb-power-other-financial-reform?utm_content=buffer912ec&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer