Tag Archives: Treasury

Dodd-Frank in Trump's sights ahead of Friday Treasury meeting

Robert Rubin: Much of Dodd-Frank was ‘necessary’ President Donald Trump is planning to take the next step Friday in his steady attack over the 2010 Dodd-Frank financial reform law. The president will direct Treasury Secretary Steven Mnuchin to review regulators’ authority to unwind a bank on the brink of failure and to label nonbank firms — insurance companies, private equity firms and hedge-funds — as risky institutions, according to a preview of the president’s schedule from the White House. He will also sign an executive order at the Treasury Department ...

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Treasury Secretary Mnuchin: Major tax reform plan coming 'very soon'

Treasury Secretary Mnuchin: Tax reform coming ‘very soon’ Treasury Secretary Steven Mnuchin said Thursday the Trumpadministration plans to release a “major tax reform” plan “very soon,” regardless of the outcome of a healthcare overhaul bill. “We hope that this won’t take until the end of the year,” said Mnuchin, speaking at a policy summit in Washington hosted by the Institute of International Finance. The administration has repeatedly stressed that tax reform is a top priority this year. The fresh guidance comes on the heels of a recent interview with the ...

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Former UK Treasury chief takes job editing a free newspaper

He used to run the world’s fifth largest economy. Now he’ll edit London’s free evening newspaper. Former U.K. Treasury chief George Osborne is the new editor of the Evening Standard, owner Evgeny Lebedev announced Friday. The Standard is free tabloid with a circulation of 900,000. “I am proud to have an editor of such substance, who reinforces The Standard’s standing and influence in London and and whose political viewpoint — socially liberal and economically pragmatic — closely matches that of many of our readers,” Lebedev said in a Tweet. Osborne, ...

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Trump Treasury pick Mnuchin faces committee vote

Senate grills Treasury pick on foreclosure record Steven Mnuchin could clear a major hurdle Monday toward being confirmed as Treasury secretary. The Senate Finance Committee is expected to vote at 6 p.m. ET on whether to send Mnuchin’s nomination to the full Senate. Mnuchin, a former Goldman Sachs banker and Hollywood movie producer, was one of the last of President Trump’s Cabinet picks to face Congress this month. Related: Trump Treasury pick: ‘I have been maligned’ At his confirmation hearing Jan. 19, Mnuchin defended his record as a banker. Committee ...

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Treasury takes back £384m school funding

The Treasury has taken back £384m originally promised for schools in England – at a time when head teachers are protesting about a cash crisis. The money had been announced last year to fund a plan to require all schools to become academies. But the Department for Education has revealed that when the compulsory academy plan was ditched, the Treasury took back most of this extra funding. Heads said this was “outrageous” when schools could not “make ends meet”. But the Department for Education said the return of funds was ...

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Trump's treasury pick: 'No across-the-board border tax'

Senate grills Treasury pick on foreclosure record Donald Trump’s choice for treasury secretary, Steven Mnuchin, said Thursday that the incoming Trump administration doesn’t plan to quickly impose an across the board 35% tax on items manufactured in other countries. Trump has pledged repeatedly to levy a border tax on items such as cars that are manufactured in Mexico and sold in the U.S., in an effort to keep jobs from leaving the country. Let’s block ads! (Why?) Latest financial news – CNNMoney.com

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Treasury pick Mnuchin will defend record on foreclosures

Trump’s Treasury pick could face a fight Steven Mnuchin will defend his record running a California bank at his confirmation hearing for Treasury secretary, saying foreclosure practices that have been questioned were not his choice but the fault of regulators. Mnuchin goes before the Senate Finance Committee on Thursday, one of the final Donald Trump Cabinet picks to face Congress. Beyond policy questions about taxes, the debt ceiling and banking regulation, his personal record is sure to be attacked by Democrats. Let’s block ads! (Why?) Latest financial news – CNNMoney.com

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Progressives launch TV ad blitz targeting Trump treasury pick Steve Mnuchin

Trump’s treasury pick has a controversial foreclosure history The controversial foreclosure tactics of a bank formerly run by Steven Mnuchin are being used in a new TV ad campaign aimed at preventing him from becoming the next treasury secretary. Progressive group Allied Progress launched two six-figure TV ad buys on Wednesday calling on Republican Senators to reject President-elect Donald Trump’s nomination of Mnuchin. This article passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at ...

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Bank led by Treasury contender hit with discrimination claim

Steve Mnuchin in 90 seconds One of the contenders to be Donald Trump’s Treasury secretary, Steven Mnuchin, chaired a company that was accused this week of discriminating against minority home buyers in California. Two nonprofit groups filed a complaint against OneWest Bank Wednesday for allegedly violating the Fair Housing Act. Mnuchin served as chair of OneWest before he sold it to CIT Group last year. It is now called the CIT Bank and Mnuchin maintains a seat on the CIT Group board. The two fair housing organizations, California Reinvestment Coalition ...

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Brexit: U.K. Treasury wants massive corporate tax cut

Uncertainty looms over post-Brexit world Desperate times call for desperate measures. U.K. Treasury chief George Osborne says he wants to take an ax to the country’s corporation tax to boost investment in the aftermath of the Brexit vote. Let’s block ads! (Why?) Latest financial news – CNNMoney.com

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