President Donald J. Trump intends to designate Comptroller of the Currency Joseph Otting as Acting Director of the Federal Housing Finance Agency. Mr. Otting will continue to carry out his duties as Comptroller of the Currency.
President Trump tweeted that "fines and penalties against Wells Fargo Bank . . . will be pursued and, if anything, substantially increased" in connection with alleged improper mortgage lending practices.
In two executive memoranda, President Trump directed the Treasury Department to review the processes in place for the Financial Stability Oversight Council and the framework for the Orderly Liquidation Authority.
President Trump signed an Executive Order that directs the Office of Management and Budget Director to propose a "plan to reorganize the executive branch in order to improve the efficiency, effectiveness and accountability of agencies."
President Donald J. Trump signed (i) an Executive Order setting forth "Core Principles for Regulating the United States Financial System" and (ii) a memorandum regarding the Department of Labor’s fiduciary rulemaking.
President Obama hosted a meeting with lead financial regulators to discuss the progress made in strengthening the financial regulatory system, including Dodd-Frank implementation. Linked below is the press release for the meeting. See: White House Press Release .
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