Overview
Chairman Hatch Announces Treasury Nominations Markup: Senate Finance Committee Chairman Orrin Hatch (R-UT) announced that the committee will convene a markup on Wednesday, August 1, regarding the nominations of Justin Muzinich to be Deputy Secretary of the Treasury and Michael Desmond to be Chief Counsel for the IRS and an Assistant General Counsel in the US Department of the Treasury (Treasury).
Treasury Releases Report on Nonbank Financials, Fintech, and Innovation: Today, Treasury released a report identifying improvements to the regulatory landscape that will better support nonbank financial institutions, embrace financial technology, and foster innovation. Treasury’s recommendations are designed to facilitate US firm innovation by streamlining and refining the regulatory environment. These improvements should enable US firms to adopt competitive technologies more rapidly, safeguard consumer data, and operate with greater regulatory efficiency.