Today’s post reacts to the recent report put forward by the U.S. Department of the Treasury entitled ‘ A Financial System That Creates Economic Opportunities: Banks and Credit Unions ’, which represents the aim of the Trump Administration to ‘ do a big number on Dodd-Frank ’. The headline effect of the report, namely the proposed circumvention of the Consumer Financial Protection Bureau (CFPB) on the basis that ‘ the CFPB’s approach to enforcement and rulemaking has hindered consumer choice and access to credit, limited innovation, and imposed undue compliance burdens ’, will no doubt be the key issue with regards to the fallout of this contentious report. For this post, we will assess the report and the underlying sentiment, and then position this understanding within a wider picture of the ‘amnesia’ that is taking hold despite a number of globalised warnings regarding the ability of the system to withstand any more shocks so close to the last Crisis. The Treasury report is th...