Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
Rep. Jeb Hensarling, chairman of the House Financial Services Committee, is a top recipient of contributions from banks and financial firms. Rep. Jeb Hensarling, chairman of the House Financial Services Committee, is a top recipient of contributions from banks and financial firms.
In technical terms, the departments of Justice and Education this week rescinded Obama-era guidance on the interpretation of Title IX, the law that prohibits sex discrimination in education. In symbolic terms, the Trump administration backed away from endorsing transgender civil rights on the federal level, at least as they concern students.
In a divided Washington, where few issues generate bipartisan support, relief from financial regulations for smaller banks seems to be a singular exception. As President Trump, Republican members of Congress, and bank lobbyists look to overhaul banking rules put in place after the 2008 financial crisis, some regulatory advocates agree that targeted changes for smaller institutions are needed.
Many NAFCU members have engaged with their lawmakers recently on the need to repeal the Dodd-Frank Act's Durbin amendment, via the association's Grassroots Action Center , but NAFCU Director of Political Affairs Dan O'Brien is urging continued outreach on this and other key issues. Next week, when lawmakers are working in their home states and districts, will be an "ideal time to engage in grassroots advocacy," O'Brien said in a message to credit unions yesterday.
Community banks and small businesses are optimistic about changes the Trump administration and Congress have promised to laws that tightened supervision of the banking industry after the 2008 financial crisis. The number of small, local banks has declined since the Great Recession, a change that advocates feel was intensified by the paperwork the increased oversight entails.
During the presidential campaign, then-candidate Donald Trump called for a 21st-century Glass-Steagall Act. While that Depression-era law required the complete separation of commercial and investment banking, it is unclear exactly what now-President Trumps envisions in a modern version.
U.S. Rep. French Hill, a Republican from Little Rock, is being considered for a spot on the board of governors of the Federal Reserve System, Bloomberg and Reuters reported this month. Two other media outlets, Dow Jones and American Banker , say Hill is one of the candidates to serve as deputy treasury secretary.
A 49-year-old man from Teaneck was arrested after smashing a wine bottle inside Trump Tower, authorities said Wednesday. Teaneck man arrested inside Trump Tower A 49-year-old man from Teaneck was arrested after smashing a wine bottle inside Trump Tower, authorities said Wednesday.
For years the White House has pushed U.S. regulators to finish writing tough new rules that would restrict bonuses for Wall Street executives, one of the most contentious parts of the Dodd-Frank banking reform law. The chances of that actually happening are becoming slimmer by the day.
Steven Mnuchin, president-elect Donald Trump's nominee to be treasury secretary, said Fannie Mae and Freddie Mac should leave government control and that the incoming administration "will get it done reasonably fast." The comments, which came in an interview on Fox Business, sent shares of the mortgage-finance giants soaring Wednesday.
On Tuesday, the president-elect will meet with U.S. Rep. Michael McCaul , a Republican from Austin who is the chairman of the House Homeland Security Committee. McCaul has been discussed as a potential pick for secretary of homeland security.
With some in the finance industry salivating over the prospect of deregulation under Donald Trump, a key power broker is emerging who might bring headaches for Wall Street. House Financial Services Committee Chairman Jeb Hensarling has already been rumored as a potential Treasury Secretary under Trump and he's got a plan at his fingertips for ripping up and replacing the Dodd-Frank Act.
President-elect Donald Trump and his team are battling back against charges of chaos and infighting as they race to set up an administration. The incoming Republican administration got an unlikely boost from outgoing Trump stayed out of the public eye Wednesday, meeting with a stream of visitors at his New York skyscraper.
President-elect Donald Trump and his team are battling back against charges of chaos and infighting as they race to set up an administration. The incoming Republican administration got an unlikely boost from outgoing Vice President Joe Biden, who said "no administration is ready on Day One."
Minneapolis Federal Reserve President Neel Kashkari unveiled a plan on Wednesday to prevent future government bailouts by forcing the largest U.S. banks to hold so much capital that they would probably decide to break themselves up. Kashkari's plan would also penalize large asset managers, with the idea that so-called "shadow banks" can create systemic risks similar to that of big banks.
Former Goldman Sachs Group Inc. partner Steven Mnuchin has been recommended by Donald Trump's transition team to serve as Treasury secretary, according to two people familiar with the process, and the choice is awaiting the president-elect's final decision. Mnuchin, the campaign's national finance chairman, has been considered the leading candidate for the job.
U.S. Speaker of the House Paul Ryan gestures to the crowd during an 'Election Night event' in Janesville, Wisconsin, U.S. November 8, 2016. The U.S. Capitol is seen the day after the election of Donald Trump in the U.S. presidential election in Washington, U.S., November 9, 2016.
An airplane carrying Republican vice presidential candidate Mike Pence has slid off the runway while landing at New York's LaGuardia Airport. The plane made a rough impact when it landed.
Federal Reserve chair Janet Yellen was thrust into the election-year boxing ring during a congressional committee hearing on Wednesday, defending the central bank's regulatory role, taking and landing punches on Wells Fargo and other banks considered too big to fail, and addressing accusations of political conflicts of interest. At a house of representatives financial services committee hearing, Yellen also provided details on the changes the central bank is considering making to the annual stress tests it gives US banks.