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cwilliams@morningconsult.com // @byclairewClaire is a reporter at Morning Consult covering financial regulation.
By Claire Williams Top Stories Sen. Elizabeth Warren’s (D-Mass.) wealth tax would raise $1.1 trillion less than projected over a decade, according to a new analysis from the Penn-Wharton Budget Model. The difference in the Democratic presidential candidate’s proposed tax expectations comes from a disagreement over how prevalent tax avoidance would be under a […]
By Claire Williams Top Stories In a final essay published posthumously, former Federal Reserve Chairman Paul Volcker said President Donald Trump’s attacks on the Fed are a “matter of great concern” since the central bank is “carefully designed to be free of purely partisan attacks.” Volcker urged the current members of the Federal Reserve […]
By Claire Williams Top Stories Morgan Stanley is reducing its global workforce by 2.5 percent, or about 1,500 jobs, according to two people familiar with the matter. The cuts are more than the bank usually makes at the end of the year, according to a third person, and are likely due to uncertainty in […]
By Claire Williams Top Stories Goldman Sachs Group Inc. will introduce a robo-adviser in 2020 offering wealth management services to people with as little as $5,000 to invest, a significantly lower threshold than for its traditional accounts, which typically serve people with around $1 million to $10 million. One senior Goldman executive called the […]
By Claire Williams Week in Review Regulators testify House Financial Services Committee Chair Maxine Waters (D-Calif.) and other House Democrats criticized Treasury Secretary Steven Mnuchin for reducing the Financial Stability Oversight Council’s role in supervising nonbanks, shortly after the council released its annual report saying it would focus on risky activities rather than on financial […]
By Claire Williams Top Stories Treasury Secretary Steven Mnuchin said the United States objects to the World Bank’s Country Partnership Framework for China, a loan program worth more than $1 billion a year to fund green investments and other programs. The comment comes amid continued trade tension between the United States and China and […]
By Claire Williams Morning Consult has published the latest edition of its monthly Trump Tracker, showing the president’s approval state by state, month over month. See it here. Top Stories The Financial Stability Oversight Council highlighted mortgage companies as a potential risk to the U.S. financial system for the first time, as well as pointing […]
By Claire Williams Top Stories The Treasury’s Financial Crimes Enforcement Network, the Federal Reserve, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Conference of State Bank Supervisors clarified that banks aren’t required to report suspicious activity reports on customers who produce hemp. Banks are still required to […]
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