Treasury Department

GSEs allowed to keep more earnings, but what comes next is uncertain

01/14/21

The FHFA and Treasury will allow Fannie Mae and Freddie Mac to hold more capital as part of the Trump administration's plans to release the companies from conservatorship. But it is unclear if the incoming Biden administration will keep the mortgage giants on the same reform path.

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Fed returns money to Treasury for terminated emergency programs

01/07/21

The Federal Reserve has returned about $42 billion to the U.S. Treasury, and will soon transfer another $20 billion in excess funds connected to emergency lending facilities that stopped offering new loans last month, it said Thursday.

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Amex said to face inquiry into business credit card sales tactics

01/07/21

American Express is reportedly under investigation by top federal agencies exploring allegations of unethical sales tactics by the company’s small-business credit card sales representatives.

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Fed extends Main Street program to process more loans

12/29/20

Treasury Secretary Steven Mnuchin approved the extension of the Main Street Lending Program, which offers loans to midsize companies affected by the pandemic, to Jan. 8.

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Waters, Brown urge Mnuchin to halt housing finance reforms

12/23/20

The top Democrats on the House and Senate banking committees urged the Trump administration to pull the plug on any steps to overhaul Fannie Mae and Freddie Mac with the pandemic still taking a toll on the economy.

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Biden team likely will force banks to evaluate climate risks

12/17/20

Incoming administration officials, especially Treasury Secretary-designate Janet Yellen, are expected to push for stress tests, public disclosures and other requirements aimed at gauging banks' climate exposure and minimizing the threat of global warming to the financial system.

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Mnuchin rules out freeing Fannie-Freddie before Biden takes over

12/15/20

Treasury Secretary Steven Mnuchin has all but ruled out letting Fannie Mae and Freddie Mac exit U.S. control before he steps down, leaving it to the Biden administration to decide the fates of the mortgage giants.

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Yellen’s crackdown on leveraged loan excess will have to wait

12/10/20

Time and again, Janet Yellen has warned Wall Street is piling a dangerous amount of debt onto the balance sheets of risky U.S. businesses. But as she prepares to take over as Treasury secretary, she may find it difficult to do anything quickly to rein in these markets, experts say.

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After CARES Act clash, Mnuchin and Powell unite over need for more aid

12/02/20

Following their disagreement about emergency funds mandated by the last big relief package, the Treasury secretary and Fed chief urged House lawmakers to pass another stimulus bill by the end of the year.

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As Congress weighs new stimulus, senators spar over old one's demise

12/01/20

Tuesday's hearing on the CARES Act was dominated by bickering over Treasury's decision to shut down the Fed's emergency lending facilities, drowning out pleas from some lawmakers for more aid.

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