Steven Mnuchin

With officials putting finishing touches on presidentially directed reports on the future of the housing finance system, the Senate Banking Committee announced a hearing to examine the issue.

The mortgage industry will be looking for answers when Treasury and HUD unveil reports on housing finance reform, but the Trump administration’s plans could also raise a whole new host of questions.

The Department of Housing and Urban Development approved a settlement in favor of the California Reinvestment Coalition against CIT Group's OneWest Bank, which Steven Mnuchin ran before he became Treasury secretary.

The Treasury Secretary says Facebook’s cryptocurrency plan creates national security issues; the New York Fed chief tells financial firms to stop dragging their feet and move on from Libor.

The Treasury secretary said the U.S. government has significant concerns about digital currencies, including their potential as tools for money launderers.

The Trump administration is growing wary of taking bold steps toward freeing Fannie Mae and Freddie Mac from federal control before the 2020 election, said people familiar with the matter, in part because of the political risk of potentially upending the U.S. mortgage market.

The Federal Housing Finance Agency has appeared willing to take its own steps to reform Fannie Mae and Freddie Mac, but legislation would be necessary to create an explicit guarantee of the mortgage system.

Treasury Secretary Steven Mnuchin was adamant that the Trump administration won’t just let Fannie and Freddie build up their capital buffers and then release the companies. He also said he backed an explicit government guarantee, something only Congress can do.

Options include legislation to study the risk of leveraged loans, more aggressive action by the Financial Stability Oversight Council and additional capital buffers. Policymakers may also choose to do nothing.

As Democrats keep the heat on the German bank over allegations that it suppressed reporting tied to Trump businesses, the Treasury secretary said he will direct the Financial Crimes Enforcement Network to look into the matter.