Treasury calls for streamlined cybersecurity regulatory requirements

The Treasury Department is calling on state and federal regulators to harmonize and streamline cybersecurity requirements in a report that is seen as the first indication from the Trump administration on financial regulatory reforms.

"In cybersecurity, financial institutions share the same goal as regulatory agencies: maintaining the safety and soundness of the financial system by mitigating and protecting financial institutions and the sector from cybersecurity risks," according to the Treasury report issued on June 12.

"Better coordination on cybersecurity...