Trump administration

Proposals to streamline U.S. banking regulators have resurfaced with the Trump administration's focus on efficiency, but experts and history suggest such changes are unlikely amid political and industry resistance.

President-elect Donald Trump is nominating Frank Bisignano, the chief executive officer of fintech and payments company Fiserv Inc., to be the commissioner of the Social Security Administration.

Turner served as executive director of the White House Opportunity and Revitalization Council previously.

The president’s executive action looks to assess the impact of the previous administration's alterations to the Affirmatively Furthering Fair Housing and Disparate Impact rules, while reinforcing Biden’s vow to eliminate discriminatory lending practices.

The former executive at Lend America, who has remained out of prison since his 2011 guilty plea, will not be incarcerated for his acts.

Following similar decisions by big banks, the Consumer Bankers Association and Mortgage Bankers Association said they will halt all political contributions to elected officials as some lawmakers face harsh criticism for comments that incited the storming of the U.S. Capitol.

President Trump is running out of time to do what hedge funds and other investment firms with big ownership stakes in Fannie Mae and Freddie Mac have wanted since he took office: put the mortgage giants on a path to exiting government control.

A White House-backed effort to free mortgage giants Fannie Mae and Freddie Mac from government control has been cast into doubt by former Vice President Joe Biden’s victory over President Trump.

The agency had raised concerns in the Obama administration about kickbacks in the marketing pacts between mortgage lenders and other providers, but the agency's recent guidance says the deals are legally viable.

The industry says the 2017 cut in the corporate rate helped position lenders to support the economy when the pandemic hit. But a plan proposed by Democratic nominee Joe Biden could strain banks' capital investment and hiring, observers say.