President Trump will travel one building over to the Treasury Department Friday to sign an executive order related to finance.
A White House spokesman told the Washington Examiner that Trump will sign one executive order and two memoranda. The order will require the Treasury to identify and lessen burdens from tax regulations issued in 2016, and the other two will focus on examining and possibly revisiting two areas of the 2010 Dodd-Frank financial reform law.
One area of scrutiny is the new government authority to take over a failing bank and resolve its affairs, paying out creditors. Conservatives have said that the process, meant to provide an alternative to a chaotic and system-threatening bank collapse, amounts to an automatic bailout.
The other is the super-group of financial regulators tasked with searching out threats to the financial system. The group, the Financial Stability Oversight Council, also has the authority to designate nonbank firms to be regulated as if they were mega banks. Conservatives view the council as unaccountable.
The Treasury is already following an early executive order requiring the secretary to report on ways to ease regulatory burdens.
Treasury Secretary Steven Mnuchin said Thursday that he planned to submit that report in June, and that it would include both possible changes in regulation and recommended changes to legislation.