Items Tagged with 'Treasury Department'

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Mnuchin declares support for Republican Dodd-Frank replacement

Mnuchin: The existing regulatory system is limiting our economy
The Financial CHOICE Act, the Republican-crafted replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act, took its first official steps towards becoming law on Wednesday. And as the bill moves through the legislative process, it will do so with the support of Steven Mnuchin, the secretary of the Department of the Treasury.
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Trump aide, top Republican staffers, BlackRock exec among Mnuchin's top staff at Treasury

Treasury announces Secretary's senior staff
A former top aide to the campaign of President Donald Trump, two top Republican staffers, and a former executive at BlackRock will serve as the senior staff to Steven Mnuchin, the Department of the Treasury announced Friday. The four staffers will serve as key advisors on areas ranging from the federal budget, to tax reform, legislative issues, domestic finance, housing finance policy, and regulatory reform.
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U.S. to continue investigating money laundering by foreign real estate buyers

Title companies required to reveal identities of high-end cash buyers
The federal government will continue investigating whether foreign buyers are using high-end U.S. real estate to launder money after an expanded investigation found that potentially illicit activity is behind as many as one in three cash purchases from foreign buyers in select markets.
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Mixed reaction to Mnuchin officially taking over as Treasury Secretary

Republicans pleased, Democrats not so much
Considering the contentious nature of the confirmation process, it’s not a surprise that reaction to Steven Mnuchin officially being sworn in as the next Secretary of the Department of the Treasury varied wildly. As you might expect, Republicans celebrated Mnuchin’s confirmation, while Democrats decried it.
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It's official: Steven Mnuchin sworn in as Treasury Secretary

Senate approves former OneWest exec for cabinet post in largely partisan vote
Despite all the bluster, attempted parliamentary maneuvering, and name-calling from the Democratic party, the Senate voted Monday evening to approve Steven Mnuchin to serve as the next Secretary of the Department of the Treasury. As expected, the Senate approved Mnuchin in a partisan vote of 53-47, with one Democrat, Sen. Joe Manchin, D-West Virginia, splitting from his party and voting with the Republican majority.
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Democrats want "victims of Mnuchin foreclosure machine" to testify at Treasury nominee hearing

25 senators call for OneWest customers to speak at Mnuchin's hearing
Senate Democrats recently began collecting complaints from consumers about Steve Mnuchin and OneWest Bank in preparation for Mnuchin’s confirmation hearing to serve as the next Secretary of the Department of the Treasury. What wasn’t known at the time is what exactly the Democrats planned to do with those complaints. But Friday, the Democrats showed their hand, asking the leadership of the Senate Committee on Finance to allow “victims of Mnuchin foreclosure machine” to testify at Mnuchin’s confirmation hearing.
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Steve Mnuchin, Trump Treasury pick, to face Senate on Jan. 19

Former Goldman Sachs, OneWest Bank exec likely to be grilled by Democrats
On Friday, the Senate Committee on Finance announced that the confirmation hearing for Steve Mnuchin, the Trump administration’s choice to lead the Department of the Treasury, will take place on Thursday, Jan. 19. The Democrats are expected to grill Mnuchin for his time with OneWest Bank, which was accused of redlining and illegal foreclosure activities under his leadership.
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Trump picks former Goldman Sachs exec, OneWest chairman Steve Mnuchin to lead Treasury

Led mortgage bond trading at Goldman Sachs
Steve Mnuchin, a former executive at Goldman Sachs and former chairman of OneWest Bank, is President-elect Donald Trump’s choice to lead the Department of the Treasury during his administration, Trump’s transition team announced Wednesday morning. Here's more information on Mnuchin's long history in finance and mortgages and a look at the varied reactions to his appointment.
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Trump reportedly considering Rep. Jeb Hensarling to lead Treasury

House Financial Services Committee chairman to cabinet post?
In another indication of how President-elect Donald Trump plans to pursue financial reform, House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, is reportedly being considered to serve as Secretary of the Treasury in the Trump administration.
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U.S. expands investigation into money laundering by foreign cash buyers

Government finds evidence of suspicious activities in high-end real estate
The federal government revealed Wednesday that its investigation into foreign buyers using high-end U.S. real estate as a means to launder money found that potentially illicit activity is behind a "significant" portion of the cash transactions in Manhattan and Miami, and plans to expand the investigation into Los Angeles, San Francisco, and several other areas.
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