Steven Mnuchin

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.

The ranking Democrat on the Senate Banking Committee says he wants answers from the Financial Stability Oversight Council on efforts to address corporate debt risks.

The acting head of the Federal Housing Finance Agency has promised substantial changes for Fannie Mae and Freddie Mac, but the exact mechanics and timeline of an administration plan are still a mystery.

After 10 years of conservatorship, the new year could finally usher in big steps toward housing finance reform.

The Trump administration wants to work with Congress on freeing Fannie Mae and Freddie Mac from government control, though it's considering pursuing some changes on its own, Treasury Secretary Steven Mnuchin said Tuesday.

Maybe political winds or another downturn will spark housing finance reform. But 10 years after the conservatorships began, the companies are still in perpetual limbo.

A senior Treasury department official said it's an "adapt or die" situation for regulators and financial firms in the midst of a growing fintech space.

With the question of a federal charter still looming, Treasury's last report on changes to the financial regulatory system will focus on nonbanks and new tech startups.

Fannie Mae and Freddie Mac will be allowed to build capital buffers to protect against losses under an agreement between the Treasury Department and the Federal Housing Finance Agency announced on Thursday.

The industry derides the proprietary trading ban as costly, and the Trump administration has heard those concerns. Yet regulators must choose between subtle though expedient pin-prick changes versus a more drastic overhaul.

The Treasury Department is expanding its calls for overhauling regulation of the financial services sector, this time focusing on changes to the most significant rules surrounding securitization and derivatives.

Payday lenders and arbitration supporters are claiming the CFPB has met more often with consumer groups than industry, laying the groundwork for likely lawsuits on key rules.