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Diversified Financials Consumer Finance

  • Temasek may be betting China’s consumers will eschew retail therapy in favor of hitting the road, cutting its Alibaba stake and buying Ctrip shares.

  • On Tuesday, two Texas Republicans, Senator Ted Cruz and Representative John Ratcliffe, introduced a one-page bill to kill the Consumer Financial Protection Bureau entirely. Their move comes a few days after Representative Jed Hensarling, the chairman of the House Financial Services Committee, outlined a plan to limit the independent agency's power and to...

  • WASHINGTON, Feb 9- The Republican chairman of a key House of Representatives committee has laid out his plan to roll back Wall Street rules and consumer protections conceived after the 2008 financial crisis, a step that will largely define the financial deregulation debate in the Trump era. But it would require 60 votes in the Senate, where Republicans hold 52...

  • WASHINGTON, Feb 9- The Republican leader of the House Financial Services Committee plans to scale back banking reforms, curb the consumer finance agency and ease regulations on financial institutions and companies looking to raise capital, according to a proposal seen by Reuters on Thursday. In a four-page memo on the legislation he intends to introduce,...

  • WASHINGTON, Feb 9- A leading Republican lawmaker on Thursday proposed cutting funds for the Consumer Financial Protection Bureau as a way to eliminate the U.S. agency that writes banking rules. Jeb Hensarling, the Republican chairman of the House Financial Services Committee, said the CFPB could be "functionally terminated" if Congress simply drained the...

  • WASHINGTON, Feb 7- The chairman of the U.S. Financial Services Committee told CNBC on Tuesday that revamping the 2010 Dodd-Frank Wall Street reform law remained a "this-year priority" for President Donald Trump, Vice President Mike Pence and House Speaker Paul Ryan. While the bill is expected to easily pass the Republican-led House, it will face resistance in the...

  • Feb 6- Evidence that Dodd-Frank Act regulation is making lending conditions tighter is thin on the ground, at least for the vast majority of the U.S. economy. President Donald Trump on Friday kicked off what he said would be a major restructuring of the post-crisis legislation governing everything from banks to capital markets to consumer financial...

  • At a White House forum on Friday with U.S. business leaders, including JPMorgan Chase's CEO Jamie Dimon, Trump said his administration expects "to be cutting a lot out of Dodd-Frank." That will involve a lot more than issuing an order, said former Democratic congressman Barney Frank, co-author of the 2010 Dodd-Frank Wall Street reform law that raised capital...

  • At a White House forum on Friday with U.S. business leaders, including JPMorgan Chase's CEO Jamie Dimon, Trump said his administration expects "to be cutting a lot out of Dodd-Frank." That will involve a lot more than issuing an order, said former Democratic congressman Barney Frank, co-author of the 2010 Dodd-Frank Wall Street reform law that raised capital...

  • Trump pledged during his campaign to replace the Dodd-Frank law introduced under the Obama administration which raised capital requirements for banks, restricted their trading by means of the "Volcker Rule," and also created the Consumer Financial Protection Bureau. The U.S. Chamber of Commerce and other trade groups are seeking to have the fiduciary rule...

  • The executive order Trump will sign on the 2010 Dodd-Frank law on Wall Street reform will be largely symbolic towards rolling back the regulations that Trump sees as hurting the economy, because only Congress can rewrite the legislation. Even though the directives to agencies to examine possible changes to the landmark law may not have teeth, Wall Street...

  • The executive order Trump will sign on the 2010 Dodd-Frank law on Wall Street reform will be a first step towards rolling back the regulations that Trump sees as hurting the economy, but without rewriting the legislation, which can be done only through Congress. Expectations of simpler bank regulations helped push up stocks on Wall Street in early trading.

  • President Donald Trump on Friday will fire the opening salvo in his campaign to scale back major regulations that resulted from the financial crisis, directing a review of the Dodd-Frank Act and putting the brakes on a retirement advice rule. The executive order that Trump will sign on the 2010 Dodd-Frank Wall Street reform law will not overhaul the...

  • WASHINGTON, Feb 2- A U.S. appeals court on Thursday rejected separate bids by 16 states and two Democratic lawmakers to defend the U.S. Consumer Financial Protection Bureau in a legal battle that could defang the agency created under former President Barack Obama. In a brief order, a three-judge panel of the U.S. Court of Appeals for the District of Columbia...

  • NEW ORLEANS, Jan 29- U.S. auto dealers gathered for their annual convention in New Orleans said they want President Donald Trump to ease federal regulation of vehicle emissions and consumer lending, reversing action taken by his predecessor. Former President Barack Obama enacted rules requiring automakers to roughly double the average fuel efficiency of...

  • NEW ORLEANS, Jan 29- U.S. auto dealers gathered for their annual convention in New Orleans said they want President Donald Trump to ease federal regulation of vehicle emissions and consumer lending, reversing action taken by his predecessor. Former President Barack Obama enacted rules requiring automakers to roughly double the average fuel efficiency of...

  • SAO PAULO, Jan 26- Brazil's top monetary policy body approved on Thursday restrictions to revolving credit lines offered by credit card companies, in a long-expected move aimed at reducing interest rates for consumers. The National Monetary Council said consumers could only use for one month the high-cost revolving credit lines that automatically finance...

  • SAO PAULO, Jan 26- Brazil's top monetary policy body approved on Thursday restrictions to revolving credit lines offered by credit card companies, in a long expected move aimed at reducing interest rates for consumers. The National Monetary Council, known as CMN, said consumers could only use for one month the high cost revolving credit lines that...

  • WASHINGTON, Jan 23- Citigroup Inc mortage units have been fined $28.8 million for keeping home borrowers in the dark about options to avoid foreclosure and making it difficult for them to apply for relief, the U.S. consumer finance watchdog said on Monday. CitiMortgage will pay an estimated $17 million to compensate wronged consumers, as well as a civil penalty...

  • WASHINGTON, Jan 23- Democratic state officials took a step on Monday to try to defend the U.S. Consumer Financial Protection Bureau in a court battle that could defang it, worried that Republican President Donald Trump's administration will not safeguard the agency. Attorneys general from 16 states plus the District of Columbia filed papers with a federal...