The Treasury Department recently released a report urging state and federal regulators to revamp outdated statutes and support technological innovations such as AI, machine learning and blockchain that could make the U.S. financial system more nimble and competitive.

The 222-page report, commissioned by the Trump Administration 18 months ago, focused on non-bank financial services firms, such as credit lending, servicing organizations and payments networks, as well as fintech companies – tech vendors focused on innovation.

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