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Trump to Order Dodd-Frank Review, Halt Obama Fiduciary Rule

By Justin Sink, Elizabeth Dexheimer, and Katherine Chiglinsky President Donald Trump will order a sweeping review of the Dodd-Frank Act rules enacted in response to the 2008 financial crisis, a White House official said, signing an executive action Friday designed to significantly scale back the regulatory system put in place in 2010. Trump also will halt another of former President Barack Obama’s regulations, hated by the financial industry, that requires advisers on retirement accounts to work in the best interests of their clients.

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Pence, Hensarling: Dismantling Dodd-Frank remains a high priority

Top Republicans keep crosshairs trained on financial reforms By Ben Lane It’s been a busy first week in office for President Donald Trump, with executive orders on immigration, energy, trade, health care, and more being handed down daily. But executive orders are just the preamble to the big initiatives that Trump and the Republican majority in Congress are expected to push for shortly. Chief among those is the “dismantling” of the Dodd-Frank Wall Street Reform Act. During the presidential transition, Trump’s transition t

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Done deal: AIG finalizes sale of United Guaranty to Arch Capital Group

Initial reports placed sale price at $3.4 billion By Ben Lane American International Group officially closed the sale of its mortgage-guaranty unit United Guaranty to Arch Capital Group on Dec. 31, 2016, the companies announced Tuesday morning. The sale, which was previously announced in August, represented a change in plan for AIG. Earlier in the year, AIG said that it planned to take United Guaranty public, but decided to sell instead after receiving blowback from activist investors, according to a report from Bloomberg.

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Selling distressed loans to investors significantly cuts foreclosure rates

Selling distressed loans to investors significantly cuts foreclosure rates  By Laurie Goodman Despite skepticism by many advocates, the Federal Housing Administration (FHA) and Fannie Mae and Freddie Mac (the government-sponsored enterprises, or GSEs) increasing rely on auctioning off severely delinquent mortgages to private investors to dispose of these distressed assets. In January, we showed that sales of distressed or nonperforming loans (NPLs) have been effective from the borrowers’ and taxpayers’ perspectives, but these co

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Trump Treasury pick: Fannie Mae and Freddie Mac will be privatized

Steve Mnuchin tells Fox Business: "We’ll get it done reasonably fast" By Ben Lane After President-elect Donald Trump announced that he selected Steve Mnuchin, a former executive at Goldman Sachs and former chairman of OneWest Bank, to lead the Department of the Treasury, Mnuchin began making the media rounds with Wilbur Ross, Trump’s choice to lead the Department of Commerce. One of Mnuchin and Ross’ first stops was with Fox Business, and during an interview with Maria Bartiromo, Mnuchin dropped a bombshell about the future of Fan

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