Multiple executive actions which will affect the U.S. economy will likely be signed by President Donald Trump at the Treasury on Friday, according to a report by CNBC.
It’s been confirmed by the White House that one of those actions will be a presidential memorandum regarding orderly liquidation authority, which would allow regulators to seize and dismantle a failing bank.
“The provision was part of Dodd-Frank, lumped in with the Treasury’s ability to designate non-banks as systemically important financial institutions,” according to the report. The memorandum will then go to Treasury Secretary Steven Mnuchin, who will review it and determine its viability.
President Trump is also expected to sign a second memorandum on Friday regarding the Financial Stability Oversight Council. Then he will sign an executive order focused on identifying and reducing tax regulatory burdens.
Trump signed an order in February which directed the Treasury to review its financial system regulations, including several banking industry rules put in place as a result of the 2008 financial crisis.
If you would like to receive Breaking News text alerts on a smartphone or tablet, download the DML APP which is completely FREE and easy to use. Go to the Google Play Store or the IOS App Store and search for DML APP. Be sure to keep the app’s notifications setting on. Another way to receive alerts is to text to 40404 the following message: follow @realdennislynch (be sure to put a space between the word follow and the @ symbol).
To see more stories like this, sign up below for Dennis Michael Lynch’s email newsletter.
Sign up to get breaking news alerts from Dennis Michael Lynch.
TRUMP TWEET 2: 100 Days