News Topic: Treasury Department

Fannie Mae and Freddie Mac are expected to retain “limited and tailored government support” after they are released from U.S. control, Treasury Secretary Steven Mnuchin said in a letter to lawmakers. ... Read full article

Community development financial institutions could stand to gain from efforts to modernize the Community Reinvestment Act, but they fear the proposal offered by regulators may end up draining their capital. ... Read full article

Comerica Bank won another five-year contract from the Treasury Department to run the prepaid Direct Express card program despite criticism of how it handled past fraud cases and customer service blunders. ... Read full article

The lawmakers say they need more information about the administration’s plans in order to conduct proper oversight. ... Read full article

The market was upended because the largest banks hold more liquid assets in Treasuries than at the Fed, limiting their ability to supply repo funding on short notice, according to a new analysis from the Bank for International Settlements. ... Read full article

The Treasury secretary suggested a role for lawmakers in containing any fallout with financial contracts stemming from the transition to a new interest rate benchmark. ... Read full article

A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system. ... Read full article

A recent bill would require banks to provide data on suspicious firearms transactions as part of anti-money laundering efforts. ... Read full article

Federal Reserve Chairman Jerome Powell said Wednesday that he does not think revamping capital or liquidity requirements is necessary despite recent volatility in the repurchase markets. ... Read full article

A lower court “erred” when it sided with Fannie Mae and Freddie Mac’s investors, the Justice Department said in its petition to the high court. ... Read full article

The Massachusetts senator and presidential candidate warned the Treasury secretary not to use the incident as a rationale for weakening regulations. ... Read full article

Kenneth Blanco's tough comments appeared to target payments providers that offer their users anonymity. ... Read full article

Allowing the mortgage giants to retain profits resolves a short-term capital shortfall, but how much capital they would need after exiting conservatorship is still the bigger question. ... Read full article

The move to alter the government's preferred stock purchase agreements is the first major one under FHFA Director Mark Calabria's tenure to wind down the conservatorship of the government-sponsored enterprises. ... Read full article

Readers sound off on climate change, the Federal Reserve's incoming real-time payments system, praise efforts for gender pay equity and more. ... Read full article

The FHFA can go beyond a recent Trump administration report to level the playing field between the private sector and Fannie Mae and Freddie Mac. ... Read full article

Readers react to the Trump administration's release of a housing finance reform plan, a proposal by HUD to redefine "disparate impact," and challenger bank claims they can end bank fees for good. ... Read full article

The regulator for Fannie Mae and Freddie Mac suggested that a finalized capital framework for the two mortgage giants could be published by the end of the year. ... Read full article