US Treasury unveils financial reforms - RTRS

The US Treasury Department unveiled a new financial regulatory framework late-Monday, following a review of its financial rules, Reuters reports.

Key Points:

The U.S. Treasury Department suggested major revisions to key Wall Street regulations that were put in place after the 2008 financial crisis

Suggesting over 100 possible changes

Among other things, the Treasury would expand the authority of the Financial Stability Oversight Council, ease up on the Volcker rule, which restricts banks' ability to place speculative market bets, and reduce the authority of the Consumer Financial Protection Bureau.