News Topic: Steven Mnuchin

Consumer Financial Protection Bureau Director Richard Cordray pushed back against a Treasury Department report critical of the bureau's arbitration rule, saying it overlooked how class action lawsuits help consumers. ... Read full article

The Treasury Department released an 18-page report saying the rule would “impose extraordinary costs” including legal fees mostly for lawyers that bring class-action lawsuits. ... Read full article

The Treasury Department is expanding its calls for overhauling regulation of the financial services sector, this time focusing on changes to the most significant rules surrounding securitization and derivatives. ... Read full article

After the FSOC voted to rescind its systemic designation for AIG, it's unclear whether the interagency council will continue to appeal a court ruling overturning MetLife's SIFI designation. ... Read full article

The Financial Stability Oversight Council said Friday that AIG, whose collapse threatened to bring down the U.S. financial system during the financial crisis, should no longer be subject to enhanced standards. ... Read full article

The Trump administration has implemented an apparent role reversal for the Financial Stability Oversight Council, leaving the true intended role of the post-crisis systemic risk body unclear. ... Read full article

The lack of progress by the Trump administration with an examination of hedge fund risks is particularly troubling in light of key Trump backers’ ties to the hedge fund industry. ... Read full article

The Trump administration is prepping recommendations to address shortcomings in the capital markets in a report to be released next month, a top Treasury Department official said Monday. ... Read full article

Despite a direct request by six Democratic senators that Fannie Mae and Freddie Mac be allowed to rebuild capital, Treasury Secretary Steven Mnuchin did little to clarify the administration's thinking. ... Read full article

Neglecting to appoint a full-time director could shortchange efforts to improve the bureau’s transparency and undertake other needed reforms. ... Read full article

With the deadline for a federal-debt-limit renewal nearly a month away, bankers are dreading the prospect of higher funding costs, strained liquidity, weaker commercial loan demand and other ramifications if Washington does not act. ... Read full article

The National Association of Federally-Insured Credit Unions defended the credit union tax exemption and called for other financial reforms during a meeting Tuesday with Treasury Secretary Steven Mnuchin. ... Read full article

Prodigy Finance, a London-based graduate student lender, gets $240 million in new funding round; Bitcoin Cash value soars. ... Read full article

Payday lenders and arbitration supporters are claiming the CFPB has met more often with consumer groups than industry, laying the groundwork for likely lawsuits on key rules. ... Read full article

Regulators have near consensus that parts of the Volcker rule need to change. But it's not clear whether the fixes being contemplated will have a big impact. ... Read full article

Citi is holding its first investor day since the financial crisis, plugging credit cards and its Mexican business; Morgan Stanley's market cap tops Goldman's for the first time. ... Read full article

Tucked away in the Treasury Department’s regulatory reform report released last month was a nascent effort to reform the way regulators implement the Community Reinvestment Act. ... Read full article

Investors drive up bank stocks on the promise of fatter dividends; Capital One bucks the trend on concerns over credit cards and auto loans. ... Read full article