Remarks by President Trump at Signing of Financial Services Executive Orders

Apr 25

From: The White House

The Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law 111-203 (the “Dodd-Frank Act”), authorizes the Financial Stability Oversight Council (FSOC) to determine that a nonbank financial company’s material financial distress or the nature, scope, size, scale, concentration, interconnectedness, or mix of its activities could pose a threat to the financial stability of the United States. . . .   It is equally important to ensure that, once notified by FSOC that it is under review, any entity under consideration for a determination or designation decision is afforded due, fair, and appropriately transparent process.

***

Read the full post
Comments (6)

Interview with Steven Mnuchin: Transcript

Apr 19

Editor’s Note: Cross-posted from OIRA Watch.

From: Financial Times

US Treasury secretary speaks to the FT on tax, economic growth, and North Korea

by: Sam Fleming, Demetri Sevastopulo and Shawn Donnan

***

. . . .So one of the things I’m very focused on in my role at FSOC is re-looking at, with the regulatory agencies, the definitions of the Volcker rule, and making sure that it provides proper liquidity. That’s one of the things that has come up already in our review of the financial reforms under the executive order, and we’ve begun to have discussions.

Read the full post
Comments (80)

Ivy League Colleges: Tax-Exempt Government Contractors or Educational Institutions?

Apr 12

From: Real Clear Policy

Subsidizing the Ivy League

By Adam Andrzejewski

***

3. In monetary terms, the “government contracting” business of the Ivy League ($25.27 billion in federal contracts and grants) exceeded their educational mission ($22 billion in student tuition) FY2010–FY2015.

4. The eight colleges of the Ivy League received, on average, more money ($4.31 billion) annually from the federal government than sixteen states.

 

Read Complete Article

Comments (0)

Agency’s one-size-fits-all diktats ignore reality

Apr 06

From: Star-Tribune

The Consumer Financial Protection Bureau is answerable to no one, and its tsunami of regulations is stifling local banks. 

By Noah W. Wilcox

***

Among the top concerns to reformers is the Consumer Financial Protection Bureau, an independent federal agency that is accountable to neither Congress nor the White House. The CFPB has churned out a flow of new financial regulations so complex and overwhelming that the bureau is ultimately harming those it is charged with protecting — individual consumers.

***

Read the full post
Comments (0)

CFPB issues proposal to amend Regulation B to allow flexibility for mortgage lenders

Mar 29

From: Financial Regulation News

The Consumer Financial Protection Bureau (CFPB) released a proposal this week to amend Regulation B to provide additional flexibility for mortgage lenders concerning the collection of consumer demographic information.

Regulation B implements the Equal Credit Opportunity Act (ECOA) — a federal civil rights law that protects applicants from being discriminated against by lenders.

Read Complete Article

Comments (0)