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  • Trump budget surprise: Gutting the CFPB

    The impact of President Donald Trump’s 2018 federal budget proposal would certainly be felt in the housing industry via the 13% cut to HUD's budget, but that’s hardly the only impactful move that the budget proposal holds. Buried on the second-to-last page of Trump’s budget is a move that is sure to please Trump’s fellow Republicans and many in the housing industry as well – gutting the Consumer Financial Protection Bureau.

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Trump budget surprise: Gutting the CFPB

Budget proposal shifts appropriations to Congress, then slashes funding
The impact of President Donald Trump’s 2018 federal budget proposal would certainly be felt in the housing industry via the 13% cut to HUD's budget, but that’s hardly the only impactful move that the budget proposal holds. Buried on the second-to-last page of Trump’s budget is a move that is sure to please Trump’s fellow Republicans and many in the housing industry as well – gutting the Consumer Financial Protection Bureau.
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Court of Appeals set to hear landmark challenge to CFPB constitutionality

D-Day for CFPB coming this week
The Consumer Financial Protection Bureau’s moment of truth (in the courtroom, at least) is coming this week as the full Court of Appeals for the District of Columbia Circuit is set to rehear the landmark challenge to the agency’s constitutionality brought by PHH Corp. Here's a breakdown of the case and a view of what's coming next.
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[Video] Bank of America CEO: Don't break up the big banks

Reacts to recent comments from President Donald Trump
The Trump Administration recently stated that they are actively considering splitting giant banks. So, coming from the leader of one of the biggest banks, Bank of America CEO Brian Moynihan explained why this idea would harm the financial system.
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Moody's: Canadian lumber tariff may take up to 6 months to impact U.S. homebuilders

Chart breaks down where the impact hits home prices
The Trump administration recently announced a tariff on Canadian softwood lumber imported into the U.S. to address a long-standing issue between the two countries. And while Canadian lumber producers, as intended, will feel the impact immediately, so will U.S. homebuilders. The main difference is that it could take U.S. homebuilders up to six months to feel the financial blow.
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Housing industry praises Trump's selection of Pam Patenaude as HUD deputy secretary

Support comes in from all sides
For those in the housing industry, Pam Patenaude’s name is well known. So, it should come as no shock that the housing industry supports the Trump administration’s nomination of Patenaude to serve as the HUD deputy secretary. Declarations of support for Patenaude came in quickly after the White House’s announcement of her nomination, including from some of the housing industry’s biggest groups, and from Patenaude’s potential boss at HUD.
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Trump picks Pam Patenaude to serve as HUD deputy secretary

Currently serves as president of the J. Ronald Terwilliger Foundation
HousingWire Woman of Influence Pam Patenaude was originally shortlisted to serve as the Secretary of the Department of Housing and Urban Development. That position ended up going to Ben Carson, as HousingWire first reported. Now in another HousingWire first, President Donald Trump plans to install Patenaude in the true position of power at HUD – deputy secretary.
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The long journey ahead for tax reform and what it means for housing

Finally, some details on the proposed plan
Treasury Secretary Steven Mnuchin and White House Chief Economic Advisor Gary Cohn revealed the Trump administration’s tax plan on Wednesday. So what exactly does the industry know so far? Well, for starters, tax reform, including housing-related tax reform, still has a long road ahead. Even with scarce details, housing associations gave their initial assessments of how the tax reform changes would impact the housing market and homebuyers.
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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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