Law and regulation

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.

It's no secret that Washington has been upended since the presidential election, with Donald Trump's unexpected victory forcing observers to recast predictions about what will happen in the new year. Following is a guide to what policymakers to watch and who is poised to make the biggest impact in 2017.

The current single-director leadership structure of the Consumer Financial Protection Bureau is not a recipe for transparency and accountability. Creating a multimember commission to oversee the agency is the answer.

The bank formerly run by Steven Mnuchin, President-elect Donald Trump's nominee to head the Treasury Department, allegedly used illegal practices in foreclosing on delinquent homeowners, according to a leaked 2013 memo from the California Attorney General's Office.

Treasury Secretary nominee Steven Mnuchin has declined to answer questions from a Democratic senator about his views on financial regulations, sanctions and his time as head of a bank accused of unfair foreclosure practices.

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

In an enforcement action totaling more than $23 million in fines and restitution, the Consumer Financial Protection Bureau found that TransUnion and Equifax – two of the largest consumer credit reporting agencies – had misled consumers on the value of the data they marketed.

Both banks and fintech firms have a lot of questions about the Office of the Comptroller of the Currency's proposed new charter, including exactly how the agency will ensure nonbanks don't get a leg up on bank competitors.

OptimumBank in Plantation, Fla., has been hit with an enforcement action due to concerns about its asset quality, capital position, compliance with anti-money-laundering regulations and other issues.

The Office of the Comptroller of the Currency's decision to offer a special-purpose charter for fintech firms may entice more players than expected, including mortgage lenders and even some payday lending shops.