Banking and affordable housing advocates are encouraged by a provision in the tax reform legislation that could increase investment in underserved communities by allowing investors to defer capital gains taxes when they reinvest in federally chartered Opportunity Funds.
A top Treasury Department official on Monday said the administration's forthcoming report on regulating nonbanks will tackle questions around financial technology companies and whether they need to be regulated more like banks.
A recent report from the agency settles a long-running debate about whether bankruptcy should replace Dodd-Frank’s “orderly liquidation authority.” The financial system needs both.
As Congress considers new rules for digital currencies, lawmakers should consider putting responsibility in the hands of the Treasury Department, given its role in handling traditional currency.
The Treasury Department struck a middle ground in recommendations for Dodd-Frank Act wind-down powers, resisting calls to repeal those powers but still addressing concerns that they are too generous to large firms.
The Trump administration on Wednesday refrained from proposing the elimination of authority to clean up failed financial behemoths, but the Treasury Department still wants substantial reforms to the resolution powers.
The Supreme Court dealt hedge funds and other big investors a blow Tuesday by refusing to revive core parts of lawsuits that challenged the federal government’s capture of billions of dollars in profits generated by Fannie Mae and Freddie Mac.
Freddie Mac posted a fourth-quarter net loss of $3.3 billion and will request $312 million from the Treasury after recent tax reform legislation forced it to write down the value of deferred tax assets.
Tax reform caused Fannie Mae to burn through retained earnings that had been approved just two months ago and to post a fourth-quarter loss. CEO Timothy Mayopoulos argued it was a one-time event that overshadowed strong fundamentals.
