A lot of names are now being tossed around for top jobs into the Trump management. We know so far as it relates to banking, here is what:
- Steven Mnuchin, a Goldman that is former Sachs, Jamie Dimon, CEO of JPMorgan, and Rep. Jeb Hensarling (R-TX), House Financial solutions Committee seat, are reportedly the best prospects for Secretary regarding the Treasury;
- SEC seat Mary Jo White is stepping down;
- Federal Reserve seat Janet Yellenwill mind the central bank until her term expires in 2018; and
- Rep. Randy Neugebauer (R-TX) is a rumored prospect for 1 day leading the CFPB.
As President-elect Donald Trump starts to appoint officials to his management, there is certainly one noticeable trend. People with banking experience, who possess invested years consumers that are serving are being considered for top level articles. It seems the sentiment that is anti-banking Washington is evolving, which can be very good news for customers.
Democrats’ Congressional Leadership Shakeup
Change is a-comin’ to Capitol Hill. After the 2016 Elections, Democrat leadership within the Senate is in for a shakeup. Incoming Senate Minority Leader Sen. Chuck Schumer (D-NY), who’s changing retiring Sen. Harry Reid (D-NV), announced the additions of Senators Bernie Sanders (I-VT), Tammy Baldwin (D-WI) and Joe Manchin (D-WV) into the party’s leadership team. On the reverse side regarding the Senate aisle, Republicans, led by Senate Majority Leader Mitch McConnell (R-KY), have actually retained practically the leadership team that is same.
Regarding the home part, Republicans unanimously re-elected Rep. Paul Ryan (R-WI) as presenter of your home, while House Democrats delayed their leadership election until November 30. Home Democrats asked for the wait as they assess their future in the chamber. Stay tuned in. Rep. Tim Ryan (D-OH) will challenge Rep. Nancy Pelosi (D-CA) for the positioning of House minority frontrunner.
My Trip To the Metal City
I’d a wonderful time visiting our account at PNC Bank in Pittsburgh this week. With a part for each of CBA’s 11 standing committees, PNC’s active engagement and insights have offered our account well. It was good to see CBA Board Member Todd Barnhart, Alan Aldinger, Bill Demchak, Dawn Fabian, deep Guerrini, Amy Howcroft, Mark Metz, Cathy Niederberger, Michelle Neidhardt, Mark Pregmon, Dawn Price, Denise Rossi-Henn, Randal Shields, Fred Solomon and Kim Wallace. We’d a discussion that is productive issues including the CFPB’s 2017 agenda, pupil financing, Community Reinvestment Act, part 1071 for the Dodd-Frank Act and also the effect the 2016 elections could installment loans in Connecticut have on retail banking.
I’m excited to announce PNC is likely to be hosting their first ever basics of Banking OnSite Education program spring that is next. Find out about CBA Advanced Education possibilities for bank workers right here.
CBA’s Richard Hunt visits PNC Bank in Pittsburgh.
GAO to Fed: Improvements are expected
Big news out from the national Accountability workplace this week because it circulated its long report that is anticipated banks’ stress tests. The central bank could change while the agency credited the Federal Reserve for improving oversight of the financial system, it pointed out three key areas
- Better measure the effect these tests have actually on credit throughout the market;
- Increase transparency on why banking institutions could have unsuccessful; and
- Improve oversight of the mathematical models.
Testifying on Capitol Hill Thursday, Fed seat Janet Yellen noted the bank that is central considering the GAO’s suggestions.
Find out more about just how our Executive Banking class and our faculty that is distinguished work develop the new generation of retail banking leaders here.
CBA’s Advanced Education faculty explored teaching that is innovative at their conference in Washington, D.C. this week.
Three items to understand to stay the understand
Lagniappe
Pure class from longtime Dallas Cowboy quarterback that is starting Romo on accepting their part as a back-up. It, Tony delivers an impassioned six-minute speech if you missed. A fantastic illustration of a mentality that is team-first.