Executive Order on Encouraging Financial Technology Innovation Within Existing Statutory Authority

By the authority vested in me as President by the Constitution and the laws of the United States, including Article II, Section 3 (Take Care Clause), and in order to promote financial technology innovation consistent with statutory requirements, it is hereby ordered as follows: Section 1. Policy. It is the policy of the executive branch to encourage innovation in financial technology while ensuring that regulatory frameworks remain consistent with the statutory mandates of consumer protection, financial stability, and market integrity. Section 2. Agency Review. Within 180 days of this order, each agency with regulatory authority over financial services shall review its existing regulations and consider whether adjustments consistent with statutory authority are appropriate to facilitate responsible innovation. Agencies shall not adopt any rule or guidance that would exceed their statutory authority or conflict with applicable federal law. Section 3. Coordination. The Secretary of the Treasury shall establish a working group comprising representatives from relevant agencies to coordinate interagency efforts, share best practices, and identify statutory gaps that may require legislative action. Section 4. Reporting. Within one year, each agency shall submit a report to the President summarizing its review and any actions taken. The Secretary of the Treasury shall compile these reports into a single report to Congress, including recommendations for statutory changes if needed. Section 5. Judicial Review. This order does not create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its agencies, officers, or employees. Nothing in this order affects existing rights under the Administrative Procedure Act or other statutes. Section 6. Sunset. This order shall expire five years from its date unless sooner revoked or extended by the President. Any agency actions taken pursuant to this order that are valid under existing law may continue after expiration until amended or revoked by the agency in accordance with applicable procedures.