Donald Trump became the 45th U.S. president on Friday. During his inaugural address he emphasized a protectionist approach to trade and the economy, saying “Buy American and hire American.”
President-elect Donald Trump’s treasury secretary pick, Steven Mnuchin, failed to disclose almost $100 million in assets and his director position at an offshore investment fund in initial financial disclosure documents sent to the Senate Finance Committee.
Rep. Mick Mulvaney (R-S.C.), President-elect Donald Trump’s pick to lead the Office of Management and Budget, failed to pay more than $15,000 in taxes for a household employee from 2000 to 2004, an issue that could complicate his confirmation process.
House Ways and Means Committee Chairman Kevin Brady (R-Texas) defended the border adjustment provision in the House GOP tax plan, which President-elect Donald Trump recently called “too complicated.”
President-elect Donald Trump criticized the border adjustment provision in the House GOP tax plan, calling it “too complicated.” The proposal would tax imports and exempt exports in an effort to encourage companies to produce goods in the U.S.
Ben Carson, President-elect Donald Trump’s pick to lead the Department of Housing and Urban Development, got a warm reception from Republicans at his confirmation hearing. The retired neurosurgeon and former GOP presidential candidate told members of the Senate Banking, Housing and Urban Affairs Committee that he sees public housing as a temporary stopgap and wants to lean on the private sector to address housing problems.
President-elect Donald Trump hired Anthony Scaramucci, an economic adviser during his presidential campaign, as a senior White House adviser. Scaramucci’s role will be similar to the one Valerie Jarrett has held in the Obama White House.
Steven Mnuchin, President-elect Donald Trump’s pick to lead the Treasury Department, pledged to divest his holdings in several major companies, including Wall Street firms, within 90 days after his expected confirmation by the Senate.
A new compensation plan from Wells Fargo & Co. scraps pay incentives linked to sales goals and instead focuses on providing incentives for better customer service. The plan also contains controls “to monitor bad behavior” in the wake of last year’s cross-selling scandal.
The Federal Deposit Insurance Corp. sued Bank of America for $542 million to recoup funds that it says is owed to the FDIC’s deposit insurance fund as a result of the bank underreporting its risk profile.