Financial Regulation in the Trump Era

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Donald Trump Financial Regulation Donald Trump Financial Regulation 2017-03-20 Staff Writer Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago March 20, 2017 3,406 Views The Best Markets For Residential Property Investors 2 days ago  Print This Post Subscribe Related Articles Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News Servicers Navigate the Post-Pandemic World 2 days ago Financial Regulation in the Trump Era Share Save Sign up for DS News Daily Previous: BofA Fulfills Settlement Ahead of Schedule Next: HouseCanary Announces Collaboration With Google With the current administration at the helm, everyone expects plenty of change to happen, particularly in financial regulation and the lending industry. In a brief titled “Financial Regulation in the Era of Donald Trump” for Indiana State University Networks Financial Institute, Chris Whalen states that the passage of the 2010 Dodd-Frank law and the regulations and legal undertakings that followed it put the U.S. financial sector under the greatest constraints since the Great Depression.“In the aftermath of the 2008 financial crisis, the focus of politicians in both parties was to punish banks and other financial services companies for a variety of offenses, real and imagined,” says Whalen. “In many respects, the provisions of the Dodd-Frank law were designed to chastise banks and other companies for perceived wrong doing, especially abuses of consumers.”The question now is how will Trump administration deal with financial regulation, and where does financial regulation rank on the list of priorities?A challenge that will need to be addressed is the problem of “too big to fail.” . Whalen notes that the aftermath of the bailouts caused widespread anger. This anger increased dramatically in the following foreclosure crisis.“Meanwhile, virtually no executives of the major U.S. banks and financial institutions were subject to legal sanctions for acts of financial fraud and malfeasance,” Whalen says. “Instead the victims of the 2008 crisis–namely the shareholders of the largest financial institutions–have been repeatedly punished via fines and lopsided legal settlements.”Regulatory entities are already high-priority targets for President Trump, most notably the Consumer Financial Protection Bureau (CFPB). The president’s team has indicated support of the Financial Choice Act, which, among other things, would modify aspects of Dodd-Frank. The Choice Act would help to reform the CFPB, which, according to Whalen, “has been especially harmful to the mortgage industry and has caused the cost of servicing a mortgage to rise several fold since 2008.”Additionally, the Choice Act would give regional and community banks a way to avoid most aspects of Dodd-Frank regulations, and a policy of bankruptcy not bailouts, which would force big bank’s parent companies to file bankruptcy and restructure, instead of the current Dodd-Frank policy which allows for bailouts.“Some or all of the provisions of the Financial Choice Act could eventually become law. A modified version of legislation could be made palatable to both parties in the Senate and, despite Democratic opposition, could become law far more easily than either a tax reform bill or ACA reform,” Whalen concludes. “There are a number of other issues that may catch the attention of the new President next year, but an amended version of the Financial Choice Act has the highest probability of success in 2017. Needless to say, the financial services industry including banks, insurers and nonbank financial institutions will be very supportive of passage of some form of the Financial Choice Act.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Financial Regulation in the Trump Era The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Staff Writerlast_img read more

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Use everyday life to teach kids about money

first_img 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Jonathan ClementsForget having the talk. Instead, have many talks.If you sit your children down and endeavor to share all of your hard-earned financial wisdom, you likely will quickly lose your audience. A better approach: Try to weave small financial lessons into everyday conversations, building up your children’s money savvy with repetition and real-life examples.“The whole ‘Pull back the curtain and share the information’ may make great movies, but it doesn’t make great real life,” says Holly Isdale, founder of Wealthaven in Bryn Mawr, Pa., which advises wealthy families on financial issues. “You have to have these discussions all along. Everything is a teaching moment.”Want to raise money-smart children? Here are nine ways to boost their financial acumen:Discuss their allowance. Barbara Nusbaum, a New York psychologist specializing in the emotional side of money, advises having children divvy up their weekly allowance into three buckets: spend, save and share.“An allowance is invaluable,” she says. “That allows you to have small talks about money all the time,” including what your children plan to buy, what they are saving for and what charities they want to support. continue reading »last_img read more

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Wilson wins backup quarterback battle, will be 1st option behind Hunt Friday night

first_imgAustin Wilson is the No. 2 quarterback for Syracuse on Friday night, quarterbacks coach Tim Lester said Tuesday evening.The sophomore Wilson was listed in the top backup spot alongside AJ Long when Syracuse released its two-deep depth chart Monday. But Lester said he won the position battle with a strong arm and improving footwork, maintaining that Long and Mitch Kimble will still get meaningful reps in practice.“His feet are comfortable and things are starting to come out of his hand on time,” Lester said. “And everything last year, he could throw it, but it was just a second late. And he was really the first one of those three to relax and let his arm be a positive for him.”Starting quarterback Terrel Hunt also spoke highly of Wilson’s development, admiring the backup’s success as an underdog in the position battle and saying he constantly pushed the Camp Hill, Pennsylvania native.Hunt and Wilson work closely together, Hunt said, with the older quarterback making sure the younger takes notes.AdvertisementThis is placeholder text“I tell him that all the time. He says, ‘Going into camp last year I was fourth string, now I’m second string.’ And I was like, ‘Yeah, you know, but you’re still not first,’” Hunt said. “I just remind him all the time. I just tell him that he’s got to keep working. I was in that same position, so I tell him that second string isn’t good enough. I really want him to push.” Comments Facebook Twitter Google+ Published on August 26, 2014 at 7:44 pm Contact Jacob: [email protected] | @Jacob_Klinger_last_img read more

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