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The people in Donald Trump’s orbit are floating some dramatic ideas that would remake the way US banks are regulated, from deleting the CFPB to abolishing the FDIC.. There are lots of questions ...
(Reuters) -U.S. bank stocks were unfazed on Friday after a report that President-elect Donald Trump's team had floated the idea of shrinking or eliminating a top banking regulator, with analysts ...
Trump’s team has also asked if the FDIC could be absorbed into the Treasury Department. But, if it were to happen, it would be a massive shakeup in the industry. The FDIC was created during the ...
Trump advisers and potential nominees have also discussed plans to either combine or otherwise restructure the main federal bank regulators: the FDIC, OCC and the Federal Reserve, the WSJ report ...
Trump claimed during the campaign that the Act "made it impossible for bankers to function", and that the regulations installed by the act "[make it] very hard for bankers to loan money for people to create jobs, for people with businesses to create jobs." [19] Days after the election, Trump's transition team pledged to "dismantle" Dodd-Frank. [20]
US banks have a lot riding on the outcome of Election Day even if they’re not 100% sure how either candidate might treat their industry. Most observers expect Donald Trump to be more favorable.
Specifically, the bill raised the threshold from $50 billion to $250 billion under which banks are deemed too big to fail. For the vast majority of banks, the bill cut back on requirements for reporting of mortgage loan data. [5] The bill also eliminated the Volcker Rule for small banks with less than $10 billion in assets. [6]
Americans’ bank accounts are safe despite the Trump administration's shutdown of a consumer financial regulatory agency, Federal Reserve Chair Jerome Powell said Tuesday. Powell, testifying ...