A 'Big Number' on Banks: U.S. Treasury Unveils Trump's Bank Plans

Small, mid-sized and large U.S. banks are likely to benefit from a Treasury Department report released late Monday proposing a variety of changes to tough financial regulations imposed after the 2008 financial crisis, including a measure that would significantly ease so-called annual stress tests banks must undergo to see if they could survive a hypothetical economic meltdown.

The report, written in response to a Trump Administration executive order in February, is 149 pages long, and includes dozens of recommendations to cut back on restrictions imposed by the Obama Administration's post-crisis Dodd-Frank Act.

Nevertheless, the recommended changes, which were issued under the oversight of Treasury Secretary Steve Mnuchin, are less sweeping than legislation approved last week by a divided House of Representatives. The House OK'd legislation seeking to eliminate key sections of Dodd-Frank in a vote that did not get the backing of a single Democratic lawmaker.

This article was written by a staff member of TheStreet.