Ian McKendry

Treasury Secretary-designate Steven Mnuchin struck a pro-banking industry tone during testimony on Capitol Hill Thursday while tangling with lawmakers over foreclosures, offshore accounts and other issues.

Steven Mnuchin's time as OneWest CEO is expected to draw ample attention at his nomination hearing, but it will not be the only issue to come up as senators try to gauge how he would lead President-elect Trump's financial policies.

Treasury Secretary-designate Seven Mnuchin will divest himself of his investments and interests in a number of companies and funds once confirmed, including a fund that has bet on Fannie Mae and Freddie Mac being recapitalized and released from government control.

The House Financial Services Committee will see a shuffling of deck chairs among the leadership of its subcommittees in the new Congress as it also welcomes 10 new Republican members.

The Senate Banking Committee is scheduled to hold a hearing Jan. 12 on the nomination of Dr. Ben Carson as Secretary of the Department of Housing and Urban Development.

President-elect Donald Trump's choice of well-known Wall Street lawyer Jay Clayton to head the Securities and Exchange Commission was a relatively safe move that suggests his other financial appointments may be equally conservative, industry observers said.

The Senate Banking Committee will have six fresh faces in the new Congress as Republicans grapple with a slimmer majority.

The new year is shaping up to be the one in which sizable changes to the Dodd-Frank Act are finally enacted, thanks to Republican victories in the White House, Senate and House.

Although Steven Mnuchin has close ties to Wall Street and was involved in some contentious deals, Democrats face an uphill battle making the case that those connections disqualify him to serve as Treasury secretary.

A bipartisan duo of House lawmakers introduced a bill Thursday that would push Fannie Mae and Freddie Mac to engage in more credit risk-sharing transactions.

The debate over housing finance reform appears to have new life as both Democrats and the next administration appear ready to take up the issue.

Even before taking office, Treasury Secretary-designate Steven Mnuchin has said he wants to return Fannie Mae and Freddie Mac to the private sector, a radically different vision of housing finance reform than that pushed by other Republicans.

Much like President-elect Donald Trump himself, expected Treasury Secretary-designate Steven Mnuchin represents something of a question mark for bankers when it comes to his agenda.

John Allison, a contender for President-elect Donald Trump's Treasury secretary, is a staunch opponent of the Federal Reserve Board, the Basel international accords, the government's support of the housing finance industry and the Dodd-Frank Act of 2010.

The transition team for President-elect Donald Trump announced a series of names this week for people who will help facilitate an orderly transfer of power at the federal financial regulators.

President-elect Donald Trump said in a tweet Tuesday that he is considering Dr. Ben Carson — one of his opponents in the Republican primary — to head the Department of Housing and Urban Development.

If President-elect Donald Trump selects House Financial Services Committee Chairman Jeb Hensarling as his Treasury secretary, it would be a clear sign that he intends to embrace a more traditional Republican agenda when it comes to financial services issues.

Sen. Elizabeth Warren, D-Mass., sharply criticized President-elect Donald Trump's transition team on Thursday, saying he has reneged on his promises to "drain the swamp" and instead has put "swamp monsters" in charge.

Progressive Democrats sent a letter to Congressional leadership on Thursday urging them not to pass a budget bill that would reform the Consumer Financial Protection Bureau and other components of the Dodd-Frank Act.

House Financial Services Committee Chairman Jeb Hensarling recited a litany of priorities for his panel next year, touching on everything from the very broad, like housing finance reform, to the specific, including targeting a proposal to rein in payday lending.