Items Tagged with 'Dodd-Frank'

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[video] Treasury secretary nominee Steve Mnuchin: Undoing Dodd-Frank "top priority"

“It’s way too complicated”
The news of President-elect Donald Trump selecting Steve Mnuchin as Treasury secretary is barely a day old but that isn’t stopping Mnuchin from making a lot of significant public statements on housing. On top of dropping a bombshell about the future of Fannie Mae and Freddie Mac, he also discussed his thoughts on Dodd-Frank in an interview with CNBC.
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Elizabeth Warren pledges to fight Trump, Republicans on Dodd-Frank, CFPB

CFPB architect: Big banks cannot be 'turned loose' on U.S. economy
Just in case anyone thought that the Democratic Party plans to stand idly by while President-elect Donald Trump and the Republican Party move to undo many of the financial reforms of the last eight years, one of its most outspoken members pledged this week to fight Trump and the Republicans every step of the way.
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Trump unveils plan to dismantle Dodd-Frank Act

"Bureaucratic red tape and Washington mandates are not the answer"
Now that the dust is starting to settle from the election, a clearer picture is beginning to emerge of what types of actions President-elect Donald Trump will pursue once the “-elect” is removed from his title. Chief among those planned actions appears to a plan to “dismantle” the Dodd-Frank Wall Street Reform Act.
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What's next now that Republicans control the Presidency and Congress?

Are Dodd-Frank and the CFPB on the chopping block?
While much of the country’s attention is focused on the seemingly unexpected election of Donald Trump, it shouldn’t be lost that the Republican Party also maintained its control of the House of Representatives and the Senate in this election. Now one party will control the legislative and executive branches of the government for at least the next two years. So what does that mean for the financial services industry, given the seismic changes the industry has seen in the last eight years?
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"A good day for democracy" or a "reckless decision": Mortgage industry reacts to watershed PHH-CFPB ruling

Reaction from all sides to Court of Appeals decision
While it’s too early to know the full impact of the United States Court of Appeals for the District of Columbia Circuit’s decision to rule the structure of the Consumer Financial Protection Bureau unconstitutional and vacate a $103 million fine against mortgage lender PHH, opinions from all sides are pouring in on just what the court’s decision could mean for housing and for the financial services industry as a whole.
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PHH wins landmark victory: CFPB ruled unconstitutional

Mortgage lender triumphs over CFPB in fight over $103 million fine
What was once unthinkable actually happened, as the United States Court of Appeals for the District of Columbia Circuit handed an earth-shattering victory to PHH, declaring the Consumer Financial Protection Bureau’s leadership structure unconstitutional and vacating a $103 million fine against PHH.
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FBR: Wells Fargo's next move is critical, for the bank and for the industry

CEO John Stumpf to face grilling on Capitol Hill
What happens over the next few days will go a long way in determining how Wells Fargo, and the banking industry as a whole, will weather the storm currently swirling around the megabank from the “widespread unlawful” practices of more than 5,000 former employees who opened more than 2 million fake accounts in order to get sales bonuses.
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Wells Fargo fake accounts fiasco proves big banks don't learn

$185 million fine erases goodwill earned by industry since the crisis
For many people, their trust in the country’s financial system was broken (perhaps irreparably so) by the financial crisis. In the aftermath, the financial services industry needed to take steps to repair that broken trust. But the $185 million fine levied against Wells Fargo for opening up two million fake accounts shows that the financial industry still hasn’t learned its damn lesson.
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Congress set to consider Republican plan to abolish Dodd-Frank

House Financial Services Committee will debate Financial CHOICE Act next week
House Financial Services Committee Chairman Rep. Jeb Hensarling, R-TX made waves earlier this year when he announced a Republican-crafted plan to repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act and replace it with a “pro-growth, pro-consumer” alternative. Now, the Financial CHOICE Act is about take one step closer to becoming reality.
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