FINRA President and CEO Robert Cook discussed the advantages and disadvantages of the Self-Regulatory Organization model, and addressed the "core question" of self-interest in self-regulation.

Republican members of the Senate Banking Committee questioned the policies and procedures of the Financial Stability Oversight Council for designating non-bank systemically important financial institutions, and urged Treasury Secretary Steven Mnuchin to end "Too Big to Fail."

Wells Fargo announced that it had agreed to pay $110 million to settle a class action lawsuit regarding retail sales practices.

Federal Reserve System Governor Jerome Powell talked about the history of the central bank, and explained that the structure of the Federal Reserve System is a "compromise" designed to balance national and regional interests.

The SEC adopted an amendment to Exchange Act Rule 15c6-1 that shortens the standard settlement cycle for securities transactions to two business days after the trade date (T+2). The final rule became effective on March 30, 2017, and the compliance deadline is September 5, 2017.