Treasury Department

Biden offers Fed veteran Nellie Liang top post at Treasury


Liang, a senior fellow at the Brookings Institution, would take a position that has been vacant since 2014.


Yellen’s banking agenda: Confront climate risks, launch AML registry


Former Fed Chair Janet Yellen told senators that as Treasury secretary she would create a “hub” to examine the effects of a changing climate on financial institutions and create a database of companies' true owners as required by a recent anti-money-laundering bill.


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


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.


Fed returns money to Treasury for terminated emergency programs


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.


Amex said to face inquiry into business credit card sales tactics


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.


Fed extends Main Street program to process more loans


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.


Waters, Brown urge Mnuchin to halt housing finance reforms


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.


Biden team likely will force banks to evaluate climate risks


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.


Mnuchin rules out freeing Fannie-Freddie before Biden takes over


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.


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


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.