News Topic: Steven Mnuchin

Treasury Secretary Steven Mnuchin has told large U.S. financial institutions including Goldman Sachs and American Express they should do more to help black- and women-owned community banks win federal contracts. ... Read full article

The mortgage agencies would be privatized under Trump administration plan; central bank will probably cut rates by 25 bps, not 50 bps, at its next meeting. ... Read full article

The Treasury Department made clear in a much-anticipated report that it prefers Congress take up reform of the government-sponsored enterprises, but it also recommended steps that federal agencies could take without legislation. ... Read full article

With officials putting finishing touches on presidentially directed reports on the future of the housing finance system, the Senate Banking Committee announced a hearing to examine the issue. ... Read full article

The mortgage industry will be looking for answers when Treasury and HUD unveil reports on housing finance reform, but the Trump administration’s plans could also raise a whole new host of questions. ... Read full article

The Department of Housing and Urban Development approved a settlement in favor of the California Reinvestment Coalition against CIT Group's OneWest Bank, which was run by Steven Mnuchin prior to him becoming Treasury secretary. ... Read full article

The Treasury Secretary says Facebook’s cryptocurrency plan creates national security issues; the New York Fed chief tells financial firms to stop dragging their feet and move on from Libor. ... Read full article

The Treasury secretary said the U.S. government has significant concerns about digital currencies, including their potential as tools for money launderers. ... Read full article

The Trump administration is growing wary of taking bold steps toward freeing Fannie Mae and Freddie Mac from federal control before the 2020 election, said people familiar with the matter, in part because of the political risk of potentially upending the ... Read full article

The Federal Housing Finance Agency has appeared willing to take its own steps to reform Fannie Mae and Freddie Mac, but legislation would be necessary to create an explicit guarantee of the mortgage system. ... Read full article

Treasury Secretary Steven Mnuchin was adamant that the Trump administration won’t just let Fannie and Freddie build up their capital buffers and then release the companies. He also said he backed an explicit government guarantee, something only Congress ... Read full article

Options include legislation to study the risk of leveraged loans, more aggressive action by the Financial Stability Oversight Council and additional capital buffers. Policymakers may also choose to do nothing. ... Read full article

As Democrats keep the heat on the German bank over allegations that it suppressed reporting tied to Trump businesses, the Treasury secretary said he will direct the Financial Crimes Enforcement Network to look into the matter. ... Read full article

The ranking Democrat on the Senate Banking Committee says he wants answers from the Financial Stability Oversight Council on efforts to address corporate debt risks. ... Read full article

The Financial Stability Oversight Council is shifting away from designating specific nonbanks and moving toward identifying activities that threaten the whole system. But some say that approach just weakens the council. ... Read full article

The central bank said that while financial markets' desire for higher yields raises the potential for losses, capital and liquidity safeguards temper any concerns about a looming crash. ... Read full article

The Treasury secretary told the House Financial Services Committee that he has been in coordination with the U.S. bank regulators to soften the impact of the United Kingdom potentially failing to strike a deal on its exit from the European Union. ... Read full article

The revisions would emphasize activities-based regulation over labeling individual firms as systemically risky. ... Read full article