Items Tagged with 'Trump Administration'

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Get ready: Congress fires up Dodd-Frank, CFPB overhaul

Committee hearing date set for Financial CHOICE Act 2.0
The Dodd-Frank doomsday clock just ticked a little closer to midnight. The Republican-crafted plan to overhaul the country’s financial regulatory system and overturn many provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act is now one step closer to becoming a reality, as the House of Representatives is set to consider the Financial CHOICE Act.
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Trump reportedly close to choosing the new "most powerful man in banking"

Set to name Randal Quarles as Fed vice chairman of supervision
President Donald Trump is reportedly close to choosing a replacement for the “most powerful man in banking.” That characterization is in reference to Daniel Tarullo, who recently stepped down as a member of the Board of Governors of the Federal Reserve System. Here are the details on Trump's reported choice to serve as the Fed's new vice chairman of supervision.
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Trump floats complete repeal of Dodd-Frank

Tells CEOs that “elimination” of landmark financial rules is a possibility
Last week, President Donald Trump told a group of CEOs that his administration is planning a “very major haircut” on the Dodd-Frank Wall Street Reform Act. But Tuesday, Trump went even further, telling another gathering of CEOs that a full repeal of Dodd-Frank may be on the table. Click through to hear for yourself.
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Hensarling to CFPB's Cordray: You deserve to be fired immediately

Tells CFPB director to his face that he needs to go
Never one to shy away from a chance to batter the Consumer Financial Protection Bureau, House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, didn’t disappoint on Wednesday when Richard Cordray, the director of the CFPB, appeared before the committee. Hensarling was at his passive-aggressive best during his opening statement, poking at Cordray’s rumored political aspirations and telling Cordray, to his face, that he deserves to be fired by President Donald Trump.
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Trump: We're going to do a very major haircut on Dodd-Frank

Tells gathered CEOs that administration is "absolutely destroying" regulations
In the words of President Donald Trump, the era of “horrible regulations” is coming to an end. On Tuesday, during a gathering of some of the CEOs of the country’s largest companies, Trump told the crowd that his administration is working hard to “destroy” many of the regulations holding back the private sector - including Dodd-Frank - and plans to continue doing so.
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Ben Carson: Housing will be part of Trump infrastructure bill

Washington Post reports on HUD’s secretary’s comments at NLIHC conference
Now that he’s back in Washington, HUD Secretary Ben Carson's focus is turning back to the looming cuts to HUD’s budget. The proposed $6.2 billion cut to HUD’s budget has many concerned about the number of housing programs that may be negatively affected or cut entirely, but Carson said Monday that those concerned with the proposed cuts aren’t seeing the big picture.
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Don't let talk of deregulation take your focus off quality control

The importance of producing error-free loans
If your town cut back on the number of police officers who patrol your streets, would people suddenly start speeding and ignoring the traffic laws? Probably not, because it wouldn't be the safe thing to do. The same goes for financial regulations. While there’s been a lot of talk in Washington lately about rolling back, if not eliminating, many parts of the Dodd-Frank law, originators still need to keep their eyes squarely on producing quality loans.
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What is the most likely outcome for the CFPB?

HousingWire webinar panelists answer
As the confusion and uncertainty around the Consumer Financial Protection Bureau continues to escalate with each passing day, HousingWire gathered three expert panelists to weigh in on the discussion. The panelists gave their insights on the most likely steps forward for the government and bureau. Will the bureau even be around in 2018?
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NAHB: White House asked for our help to get Gorsuch on Supreme Court

Builders' group says will help work to avoid Democrat filibuster
With the threat of Democratic filibuster looming in the Senate, the White House is apparently turning to homebuilders for help with getting Neil Gorsuch confirmed as the country’s next Supreme Court justice. And according a post from the National Association of Homebuilders, the group will answer the White House’s call.
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