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A-Financial-System-that-Creates-Economic-Opportunities---Nonbank-Financials-Fintech-and-Innovation

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Nội dung chi tiết: A-Financial-System-that-Creates-Economic-Opportunities---Nonbank-Financials-Fintech-and-Innovation

A-Financial-System-that-Creates-Economic-Opportunities---Nonbank-Financials-Fintech-and-Innovation

U.S. DEPARTMENT OF THEA Financial SystemThat Creates Economic OpportunitiesNonbank Financials, Fintech, and Innovation43282U.S. DEPARTMENT OF THE I R

A-Financial-System-that-Creates-Economic-Opportunities---Nonbank-Financials-Fintech-and-Innovation b A s u R YA Financial SystemThat Creates Economic OpportunitiesNonbank Financials, Fintech, and InnovationReport to President Donald J. TrumpExecuti

ve Order 13772 on Core Principles for Regulating the United States Financial SystemSteven T. MnuchinSecretaryCraig s. PhillipsCounselor to the Secreta A-Financial-System-that-Creates-Economic-Opportunities---Nonbank-Financials-Fintech-and-Innovation

ryStaff AcknowledgmentsSecretary Mnuchin and Counselor Phillips would like to thank Treasury staff members for their contributions to this report. The

A-Financial-System-that-Creates-Economic-Opportunities---Nonbank-Financials-Fintech-and-Innovation

staff's work on the report was led by Jessica Renier and w. Moses Kim, and included contributions from Chloe Cabot, Dan Dorman, Alexandra Friedman, E

U.S. DEPARTMENT OF THEA Financial SystemThat Creates Economic OpportunitiesNonbank Financials, Fintech, and Innovation43282U.S. DEPARTMENT OF THE I R

A-Financial-System-that-Creates-Economic-Opportunities---Nonbank-Financials-Fintech-and-Innovationi, Brian Morgenstern. Daren Small-Moyers, Mark Nelson. Peter Nickoloff, Bimal Patel, Brian Peretti. Scott Rembrandt, Ed Roback. Ranya Rotolo. Jared Sa

wyer, Steven Seitz, Brian Smith. Mark Uyeda, Anne Wallwork, and Christopher Weaver.ii A Financial System That Creates Economic opportunities • Nonbank A-Financial-System-that-Creates-Economic-Opportunities---Nonbank-Financials-Fintech-and-Innovation

Financial Rntech. and InnovationTable of ContentsExecutive Summary..............................................................1Nonbank Financials,

A-Financial-System-that-Creates-Economic-Opportunities---Nonbank-Financials-Fintech-and-Innovation

Fintech. and Innovation 4Emerging Trends in Financial Intermediation 6Summary of Issues and Recommendations 9Embracing Digitization, Data, and Technol

U.S. DEPARTMENT OF THEA Financial SystemThat Creates Economic OpportunitiesNonbank Financials, Fintech, and Innovation43282U.S. DEPARTMENT OF THE I R

A-Financial-System-that-Creates-Economic-Opportunities---Nonbank-Financials-Fintech-and-Innovation Innovation.......................61Challenges with State and Federal Regulatory Frameworks 63Modernizing Regulatory Frameworks for National Activitie

s 66Updating Activity-Specific Regulations........................................81Lending and Servicing 83Payments 144Wealth Management and Digital A-Financial-System-that-Creates-Economic-Opportunities---Nonbank-Financials-Fintech-and-Innovation

Financial Planning 159

U.S. DEPARTMENT OF THEA Financial SystemThat Creates Economic OpportunitiesNonbank Financials, Fintech, and Innovation43282U.S. DEPARTMENT OF THE I R

U.S. DEPARTMENT OF THEA Financial SystemThat Creates Economic OpportunitiesNonbank Financials, Fintech, and Innovation43282U.S. DEPARTMENT OF THE I R

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