As the U.S. Senate moves ahead with a sweeping tax reform package that includes an estimated $1.4 trillion in tax cuts, the longtime foes of the controversial Foreign Account Tax Compliance Act (FATCA) are hoping for a Hail Mary pass amid the overhaul. Calling it an “urgent call to arms,” Nigel Green, founder and CEO… Read More >>
Regulatory Limbo Likely as Trump Repeals Dodd-Frank
(In this second installment of a two-part series, FTF News asked the head of a New York-based financial services regulatory consulting company, Mary Kopczynski, CEO of 8of9, and her staff about the new Trump administration and its plans to dismantle the Dodd-Frank financial reform legislation. Answers from her and her team are in the Q&A… Read More >>
Glass-Steagall May Survive the U.S. Presidential Race
The major U.S. political party conventions to nominate Donald Trump and Hillary Clinton for president have been nothing if not colorful. Yet hidden among the balloons and confetti is the news that both political parties have more or less endorsed a return to the Glass-Steagall provision separating commercial and investment banking. Our first stop is… Read More >>
Even the GOP Worries about TBTF
It only took six years but the Republicans have finally issued a response to the much-maligned Dodd-Frank Act, and there was a disturbingly familiar refrain amid the rants of the Republican chairman of the House Financial Services Committee, Texas Congressman Jeb Hensarling, who is the proponent of the GOP alternative. To recap, moving from the… Read More >>
Barney Frank: Dodd-Frank’s Future Depends on 2016 Election
The future of the Dodd-Frank Act depends on the outcome of 2016 presidential election, says former U.S. Congressman Barney Frank, co-author of the massive financial services reform legislation. Frank says the law will be repealed if the Republicans win the White House, Senate and House of Representatives next year. During an appearance on a radio… Read More >>
Is FATCA a Train Wreck You Can’t Miss?
Conventional wisdom has taken a beating recently especially for domestic and international politics. Who would have predicted six months ago that Republican House Majority Leader Eric Cantor would be defeated in a primary, Russia would have annexed Crimea and is threatening to invade the Ukraine, and Iraq would be sliding toward a sectarian war? The… Read More >>
