News Topic: Treasury Department

The Fed’s top regulator is reportedly gunning to run the international Financial Stability Board, but the president's trade wars and recent criticism of Europe are impeding that effort and weakening U.S. regulators' hand more generally. ... Read full article

The Treasury secretary told lawmakers that the government needs “to strike the right balance” on Bank Secrecy Act requirements while determining the best way to collect details about account holders. ... Read full article

A senior Treasury department official said it's an "adapt or die" situation for regulators and financial firms in the midst of a growing fintech space. ... Read full article

Courts have validated the legal theory behind punishing lenders for unintentional discrimination, but the Trump administration has shown interest in revising the Obama-era policy. ... Read full article

The White House announcement of Dino Falaschetti as the choice to run the Office of Financial Research comes amid signs that the administration has attempted to reduce the agency's independence. ... Read full article

From a major CFPB deadline to a long-anticipated fintech report, there's a lot to watch for in the days to come. ... Read full article

With the question of a federal charter still looming, Treasury's last report on changes to the financial regulatory system will focus on nonbanks and new tech startups. ... Read full article

Legislation with bipartisan support would raise the threshold for reporting suspicious activity, a goal banks have long sought. ... Read full article

Treasury Secretary Steven Mnuchin said that banking records of President Donald Trump's lawyer Michael Cohen appear to have been leaked from a database maintained by his department. ... Read full article

Fannie Mae's first-quarter profits were enough for it to rebuild its minimum capital buffer and pay the Treasury Department dividend after being forced to take a draw during the previous fiscal period. ... Read full article

The Treasury secretary has said that he doesn't see changes to the housing finance system happening this year, but he's hopeful something can be done after the elections. ... Read full article

The Treasury secretary said reforming Fannie Mae and Freddie Mac will come into focus more in 2019, when Federal Housing Finance Agency Director Mel Watt’s term will end. ... Read full article

The senior official said U.S. regulatory agencies should not rush to complete certain final aspects of Basel III, to prevent the new standards from conflicting with existing rules. ... Read full article

The international standards-setting body is weathering the infatuation with isolationism in the U.S. and elsewhere better than expected. ... Read full article

Many of Treasury’s recommendations for modernizing the Community Reinvestment Act would help financial institutions, not low-income communities. ... Read full article

The rules to comply with the Community Reinvestment Act have become "formulaic and ossified" and must be changed to encourage lending practices the law originally intended to foster, the Fed's top regulator said. ... Read full article

The Treasury Department’s long-awaited report on modernizing the Community Reinvestment Act was heavy on glittering generalities but light on specifics, which explains why the report punted the real job of making needed reforms. ... Read full article

Critics argue that Community Reinvestment Act standards need to be more transparent, but creating more objective measures would require regulators to favor some types of loans over others. ... Read full article