The Trump Treasury Department recommended Tuesday that the Consumer Financial Protection Bureau rescind its major new rule regulating payday lending nationwide, officially stating the administration’s desire to see the rule, currently in regulatory limbo, go away altogether.

The recommendation came as part of a 222-page Treasury report on reforming the nonbank financial system, touching on “fintech” firms, payday lenders, debt collectors, student lenders, and more. The Treasury called for greater latitude for nonbank financing and also new federal guidelines on a range of nonbank lending.