News Topic: Trump administration

With little fanfare, President Trump officially nixed the rule prohibiting financial firms from including mandatory arbitration clauses. ... Read full article

Big banks have raised deposit rates faster than regionals in order to retain depositors; India’s largest payment app wants to expand. ... Read full article

If President Trump picks Federal Reserve Board Gov. Jerome Powell as its next chair, it may represent the best of all worlds for bankers — a policymaker who will continue the central bank's monetary policy but be open to regulatory changes. ... Read full article

CFPB Director Richard Cordray sent a letter to President Trump Monday asking him to veto a Republican resolution to nullify the bureau's arbitration rule. ... Read full article

President Trump is expected to announce his Fed chair nominee this week; three deals earned JPM's boss almost $100 million. ... Read full article

The political pendulum appears to be swinging toward significantly lower capital requirements, but that threatens to undo the gains banks made in the wake of the financial crisis. ... Read full article

Brian Montgomery appears headed for easy confirmation for another stint as commissioner of the Federal Housing Administration, despite objections by Sen. Elizabeth Warren that he is too close to the financial services industry. ... Read full article

The race to be the next Federal Reserve chairman is rekindling an old feud between Kevin Warsh, one of the Trump administration's finalists, and Randal Quarles, the newest Republican appointee to the Fed board, according to several people familiar ... Read full article

Pence breaks tie to overturn rule prohibiting mandatory arbitration; depositors receiving higher rates in effort to retain them. ... Read full article

Sen. Tim Scott said Trump asked specifically about Stanford University economist John Taylor and Federal Reserve Governor Jerome Powell. He also mentioned the current Fed chair, Janet Yellen. ... Read full article

The Treasury Department will release a report early next year on opportunities and risks posed by fintech as part of administration efforts to reform the regulatory structure, Craig Phillips said. ... Read full article

Regulators usually avoid the public fights that define other realms of the polarized Washington landscape, but the recent tiff over the arbitration rule is an exception. ... Read full article

President Trump said Tuesday that he has winnowed the number of candidates for the next Fed chair, including potentially reappointing Janet Yellen. ... Read full article

Six Democratic senators want the Treasury Department’s independent watchdog to investigate whether acting Comptroller of the Currency Keith Noreika is still allowed to be in that role. ... Read full article

The obvious impact of the Trump administration's moves to undermine the Affordable Care Act will be on consumers in nongroup insurance, but they also carry consequences for all lenders. ... Read full article

Randal Quarles was confirmed 65 to 32 as a Fed governor, and by voice vote as the vice chairman of banking supervision. ... Read full article

The National Association of Home Builders is backing off of long held support for the mortgage interest deduction in hopes that the Trump administration can deliver on its promise of lower taxes. ... Read full article

The Financial Stability Oversight Council said Friday that AIG, whose collapse threatened to bring down the U.S. financial system during the financial crisis, should no longer be subject to enhanced standards. ... Read full article