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The U.S. consumer watchdog agency, enmeshed in partisan politics since its creation after the 2008 financial crisis, is now at the centre of a tug-of-war over who will lead it. Both the departing director - an Obama appointee often criticized as being too aggressive by banks and Congressional Republicans - and the White House have named interim leaders of the Consumer Financial Protection Bureau.
In this March 26, 2015, file photo, Consumer Financial Protection Bureau Director Richard Cordray speaks during a panel discussion in Richmond, Va. Cordray, the first director of the Consumer Financial Protection Bureau, tendered his resignation Friday, Nov. 24, 2017, and simultaneously named his own successor, setting up the consumer agency for another battle with the Trump White House over control of the powerful federal watchdog.
Hoping to avoid another round of unpopular bailouts, financial watchdogs have forced too-big-to-fail banks to make themselves less dangerous by adding lots of capital that safeguards against losses. But regulators continue to monitor these financial institutions, creating a list of 30 "systemically important" banks that deserve extra scrutiny.
U.S. Rep. Randy Hultgren, R-Illinois, says the watchdog agency, created by the Dodd-Frank Financial Regulatory Reform Bill, has overstepped its mission under its current director, Richard Cordray. "The intention of those who pushed this in through the Dodd-Frank legislation was to make it a completely unaccountable bureau," Hultgren said.
TCG BDC and Federal Agricultural Mortgage Corp. are both small-cap finance companies, but which is the superior business? We will compare the two companies based on the strength of their earnings, dividends, risk, institutional ownership, valuation, profitability and analyst recommendations. TCG BDC pays an annual dividend of $1.48 per share and has a dividend yield of 8.0%.
The House passed a nearly $1.5 trillion tax bill that differs from legislation approved by the Senate Finance Committee. A comparison of the Republican-written measures: -Personal income tax rates: House bill condenses current seven brackets to four: 12, 25, 35 and 39.6 percent.
Richard Cordray, the first director of the Consumer Financial Protection Bureau, said Wednesday that he will leave the agency by the end of the month. Cordray was a holdover from President Barack Obama's administration, appointed to his position in 2013 for a five-year term.
Richard Cordray, the aggressive first director of the Consumer Financial Protection Bureau, plans to leave the agency by the end of the month, giving President Donald Trump a chance to appoint a replacement likely to be friendlier to the financial industry. Cordray was a holdover from the Obama administration, appointed to his position in 2013 for a five-year term.
Richard Cordray, director of the Consumer Financial Protection Bureau, talks about mortgage protections, managing student loans and the best ways to prevent another financial crisis with USA TODAY Editorial Page writer Saundra Torry. Richard Cordray said he will step down as director of the Consumer Financial Protection Bureau, by the end of November.
NEW YORK Richard Cordray, the aggressive first director of the Consumer Financial Protection Bureau, said Wednesday he will leave the agency by the end of the month.
The House on Tuesday backed legislation that will increase flood insurance premiums for many property owners to help firm up a program under stress from ever-more frequent and powerful storms. The bill's passage was secured when sponsors made a variety of changes to accommodate lawmakers determined to protect constituents from even steeper rate hikes or from being booted out of the program altogether.
Leave it to the Senate to take a flaming hot Trump economy and throw swamp water on it! The booming stock market speaks for itself. President Trump has our economy rolling and now the Senate comes along with "business as usual" tactics to mess things up.
The portion of the House Republican tax proposal that curtails homebuying incentives appears likely to hit Minnesota harder than most states. That's because the vast majority of cabins in central and northern Minnesota are second homes, which would no longer be eligible for a deduction on mortgage interest under the House GOP tax plan that was unveiled Nov. 2. Senate Republicans last week unveiled a different tax reform plan that makes no change to mortgage interest deductions.
As it has so often in the past, Congress is making the end of the year difficult for accountants and tax practitioners, dragging tax legislation out to the last minute with a maximum of confusion and a minimum of advanced warning. The simultaneous release on Thursday of the Senate's proposals for tax reform and the House Ways and Means Committee's markup of an earlier House bill may bring the tax reform process closer to some kind of end, but they provide few, if any, actionable items for tax professionals to bring to their clients, and in fact may end up threatening the entire reform effort.
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The emerging Senate tax overhaul measure wouldn't touch the mortgage interest deduction, as a concession to the powerful real estate lobby. The move means homebuyers would still to be able to deduct interest payments on loans of up to $1 million as permitted under current law.
In the world of conservative thought, few issues are as popular as tax reform. It's an accepted truth, by nearly anyone on the right, that the tax code is too complicated for an average citizen to understand and too laden with loopholes to be fair.
Planet Home Lending announced the addition of Temporary Buydowns to its product portfolio, effective immediately. PHL will allow 2/1 buydowns at a rate of 2% for the first year and 1% for the second year.
Homeowners in high-tax states like New Jersey, where a modest house within commuting distance of New York City can easily carry property taxes of over $15,000 a year, are wondering whether the Republican bill being sold as a tax cut would actually result in higher bills for them. At issue are provisions that would end deductions for state and local sales and income taxes and would cap the property tax deduction at $10,000.