News Topic: Treasury Department

As conservator, FHFA Director Mel Watt has substantial leeway to remake the government-sponsored enterprises without congressional input. Here's one way he might do so. ... Read full article

Problems with the IRS-managed Income Verification Express System, or IVES, have stoked concerns about delayed mortgage closings when volume picks up this spring. ... Read full article

The government must continue to provide support for the mortgage market in any new housing finance system, Treasury Secretary Steven Mnuchin said Tuesday. ... Read full article

The Financial Stability Oversight Council should ignore two recent Treasury Department recommendations regarding the labeling of systemically risky nonbanks. ... Read full article

Financial firms have mostly shrugged off the government's budget woes, but Washington's gridlock might pose a bigger risk than they think. ... Read full article

Craig Phillips, a top aide to Treasury Secretary Steven Mnuchin, said his department "broadly" agrees with the FHFA plan, which would return Fannie Mae and Freddie Mac to the private market and provide them an explicit government guarantee. ... Read full article

Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision. ... Read full article

Treasury Secretary Steven Mnuchin on Friday warned traders and firms offering services related to cryptocurrencies like bitcoin that anti-money-laundering and know-your-customer rules apply to them — and regulators are watching closely. ... Read full article

The Fed said Wednesday that the system paid roughly $80.2 billion to the Treasury in 2017, a 13% drop from a year earlier because of an increase in interest payments to member banks for reserve balances. ... Read full article

Laurie Maggiano, the Consumer Financial Protection Bureau's program manager for servicing and secondary markets, died on Sunday. ... Read full article

The Dodd-Frank Act gets more attention when it comes to regulatory burden, but the Bank Secrecy Act and other anti-laundering statutes arguably present even more of a compliance challenge for bankers. ... Read full article

The banking industry braced for big changes with the election of President Trump, but the financial reform law has proven its staying power over the past year. ... Read full article

The GSEs are on their way to paying back the money they owed the government under the original bailout deal made at the height of the financial crisis, making 2018 an opportune time for an overhaul of the housing finance market. ... Read full article

The Trump administration's Financial Stability Oversight Council is likely to remove the systemically important financial institution label for the remaining nonbanks on the list, but it might consider adding other firms such as Fannie Mae and Freddie ... Read full article

The announcement Thursday that Treasury Secretary Steven Mnuchin and Federal Housing Finance Agency Director Mel Watt agreed to let Fannie Mae and Freddie Mac each build a $3 billion capital buffer avoided a potential crisis. ... Read full article

Fannie Mae and Freddie Mac will be allowed to build capital buffers to protect against losses under an agreement between the Treasury Department and the Federal Housing Finance Agency announced on Thursday. ... Read full article

The Trump administration has previously signaled that it wants to bring the Office of Financial Research under its control. Now it may have the opportunity to do so. ... Read full article

The Trump administration's first interagency assessment of systemic risk highlighted many of the same worries as previous reports, but added a new emphasis on economic growth and regulatory tailoring. ... Read full article