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.
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.
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.
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.
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.
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.
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.
