The next Lagarde? Europe searches for one of its own to take the IMF job

The International Monetary Fund (IMF) will soon start the process of choosing a new managing director, with Christine Lagarde set to leave the organization in a few months’ time. Since the IMF’s formation back in 1945, the managing director has always been from Europe. Lagarde decided to suspend her role as managing director, shortly after the 28 heads of state decided she should replace Mario Draghi as the ECB chief. Before officially taking on her new position, Lagarde has to answer questions


The International Monetary Fund (IMF) will soon start the process of choosing a new managing director, with Christine Lagarde set to leave the organization in a few months’ time. Since the IMF’s formation back in 1945, the managing director has always been from Europe. Lagarde decided to suspend her role as managing director, shortly after the 28 heads of state decided she should replace Mario Draghi as the ECB chief. Before officially taking on her new position, Lagarde has to answer questions
The next Lagarde? Europe searches for one of its own to take the IMF job Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: silvia amaro
Keywords: news, cnbc, companies, european, director, lagarde, europe, replace, official, searches, imf, start, decided, months, managing, job


The next Lagarde? Europe searches for one of its own to take the IMF job

The International Monetary Fund (IMF) will soon start the process of choosing a new managing director, with Christine Lagarde set to leave the organization in a few months’ time.

EU ministers have made it clear they want to see someone from their continent take the job — which will be a five-year term — and continue the tradition of having a European at the helm of the Washington-based institution. Since the IMF’s formation back in 1945, the managing director has always been from Europe.

“What we want in France is first to have a European Union candidate that can succeed Lagarde as the head of the IMF; secondly, we want to be able to take a decision quickly; thirdly, I want it to be a unique candidate, presented by the EU, without useless rivalries,” Bruno Le Maire, the French finance minister, said last week. His Spanish counterpart, Nadia Calvino, also said it was a “priority” for it to be European.

Lagarde decided to suspend her role as managing director, shortly after the 28 heads of state decided she should replace Mario Draghi as the ECB chief. Before officially taking on her new position, Lagarde has to answer questions from European lawmakers in the coming months. Therefore, official discussions on who should replace her at the IMF are unlikely to start until she hands in her official resignation.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: silvia amaro
Keywords: news, cnbc, companies, european, director, lagarde, europe, replace, official, searches, imf, start, decided, months, managing, job


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Here’s how much President Trump’s 28-year-old director of Oval Office operations makes

In 2017, the Trump administration tapped the then-26-year-old to serve as a special assistant and executive assistant to the president, a role in which she earned $95,000 a year . In February of 2019, she was promoted to director of Oval Office operations, a position that comes with an annual salary of $145,000, according to White House salary data released July 1. Madeleine Westerhout, 28, is one of the longest-tenured members of President Trump’s White House staff, a group often noted for its


In 2017, the Trump administration tapped the then-26-year-old to serve as a special assistant and executive assistant to the president, a role in which she earned $95,000 a year . In February of 2019, she was promoted to director of Oval Office operations, a position that comes with an annual salary of $145,000, according to White House salary data released July 1. Madeleine Westerhout, 28, is one of the longest-tenured members of President Trump’s White House staff, a group often noted for its
Here’s how much President Trump’s 28-year-old director of Oval Office operations makes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: courtney connley
Keywords: news, cnbc, companies, president, executive, white, operations, trumps, heres, oval, office, salary, westerhout, house, staff, republican, makes, assistant, according, 28yearold, director


Here's how much President Trump's 28-year-old director of Oval Office operations makes

In 2017, the Trump administration tapped the then-26-year-old to serve as a special assistant and executive assistant to the president, a role in which she earned $95,000 a year . In February of 2019, she was promoted to director of Oval Office operations, a position that comes with an annual salary of $145,000, according to White House salary data released July 1.

Madeleine Westerhout, 28, is one of the longest-tenured members of President Trump’s White House staff, a group often noted for its high turnover rate.

That’s up from the $130,000 salary she earned last year as Trump’s assistant. It’s also significantly higher than the annual median income of $69,000 that most millennial households bring in, according to a Pew Research Center analysis.

Anita Decker Breckenridge, who started as former President Barack Obama’s executive assistant during his second term, at age 32, also made $95,000 during her two years in the White House. Meanwhile, Obama’s first executive assistant, Katie Johnson, who started in 2009, made $90,000 during her second year in the role.

Originally from California, Westerhout first caught media attention in 2016 when she was photographed escorting high-profile individuals through the hallways of Trump Tower. At the time, she was an assistant to Republican National Committee chief of staff Katie Walsh.

She graduated from the College of Charleston in 2013 with a bachelor’s degree in political science. According to her college’s website, the young politico took the fall semester off in her senior year to intern for Mitt Romney’s 2012 presidential campaign. After graduation, she moved to Washington, D.C., to intern for former California Republican Rep. John Campbell, before taking on a staff role with the Republican National Committee.

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Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: courtney connley
Keywords: news, cnbc, companies, president, executive, white, operations, trumps, heres, oval, office, salary, westerhout, house, staff, republican, makes, assistant, according, 28yearold, director


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Stocks sell off as fears around Fed and growth rise—Here’s what experts are watching

Market confidence could be starting to crack. Now, with the U.S.-China trade dispute still unresolved, rising global tensions and the latest comments from the Fed, experts remain cautiously bullish but not without concerns. If you start putting those tariffs on, all companies are going to have to worry about cost of goods sold. So, I think, within the consumer, I think they’re still OK. I think they’re OK because jobs and wages are OK.


Market confidence could be starting to crack. Now, with the U.S.-China trade dispute still unresolved, rising global tensions and the latest comments from the Fed, experts remain cautiously bullish but not without concerns. If you start putting those tariffs on, all companies are going to have to worry about cost of goods sold. So, I think, within the consumer, I think they’re still OK. I think they’re OK because jobs and wages are OK.
Stocks sell off as fears around Fed and growth rise—Here’s what experts are watching Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: lizzy gurdus
Keywords: news, cnbc, companies, experts, think, dont, confidence, tariffs, riseheres, watching, consumer, fed, director, growth, sell, market, fears, ok, trade, stocks, going


Stocks sell off as fears around Fed and growth rise—Here's what experts are watching

Market confidence could be starting to crack.

The Conference Board, a nonprofit think tank that conducts industry research, said on Tuesday that its widely followed consumer confidence index fell to 121.5 in June, its lowest level since September 2017.

This comes as Federal Reserve Chairman Jerome Powell stressed the central bank’s independence in the face of intense criticism from President Donald Trump around the Fed’s interest rate policy, injecting more uncertainty into a market landscape where many expect imminent rate cuts.

Now, with the U.S.-China trade dispute still unresolved, rising global tensions and the latest comments from the Fed, experts remain cautiously bullish but not without concerns.

Here’s what seven of them are watching now:

Ian Winer, an advisory board member at Drexel Hamilton, said the latest action in the market speaks to how central banks including the Fed will position themselves in the coming months:

“I think it’s just more of an example of this leveraged trade we’re seeing where people are buying stocks and buying bonds as well. It just tells me that you’re continuing to march towards negative rates, even here in the U.S., over the next 18 months, and it’s just further indication that the central banks are going to do whatever they have to do to try to keep the markets here.”

Chad Morganlander, senior portfolio manager at Washington Crossing Advisors, said investors are making a calculus here:

“The global economy’s going to continue to be very sluggish and slow. Inflation expectations are going to continue to be lowered. But overall, what market optimists are looking at is the earnings yield in relationship to this low interest rate environment and saying to themselves, ‘I can get a better return within the stock market.’ So, at this point within the cycle, although we are cautious when it comes to the yield curve, we’re still modestly overweight equity risk, in particular within the United States.”

Art Cashin, managing director of UBS Financial Services and UBS’ director of floor operations at the New York Stock Exchange, was wary of the recent rally:

“You’ve got the Iranian situation still, people crossing their fingers that neither side goes to military action and that we still wind up with sanctions and things of that type. But the market is, as I say, consolidating. We’re at new highs, but this is also right around where we paused back in early May and when things started to turn and head the other way.”

Cerity Partners’ Jim Lebenthal said tariff negotiations were making him “nervous”:

“I’m nervous here, even though I’m invested. So, look, it is an important moment. What are we looking for? What do you want? … The specific thing that I’m looking for is a pushback on the tariffs. Push ’em out two to three months, OK? There’s no way in heck that we’re getting a deal in the next week. Forget that. That’s not going to happen. You’re probably going to get some nice words, maybe a nice tweet, but you’re not going to get any substance other than what I hope … is push the tariffs off, because I’ve got to say those are making me nervous. If you start putting those tariffs on, all companies are going to have to worry about cost of goods sold. They don’t know where to expand their supply chain. It’s going to hit corporate confidence if we don’t get a pushback on those tariffs. And remember we used to talk about a second-half earnings recovery? Remember we all used to talk about that, like, two months ago? Nobody’s talking about that now. We’re talking about ratcheting down earnings expectations. We need to turn that around. It won’t happen if you don’t push back tariffs.”

UBS Private Wealth Managing Director Rob Sechan pointed to some concerning data points:

“This has been an untrusted rally. So, the backdrop is this, and I’ll give you some statistics: the Citi Panic/Euphoria Model is in panic territory, and you look at the skew of the AAII Bull/Bear, again, indicating cautiousness. Bank of America Merrill Lynch has this reading, this bearish sentiment reading, among [portfolio managers]. Listen to this: 42% of fund managers were overweight cash, the 98th percentile since 2001, and our own [strategist] Keith Parker says that equity positioning is 1.5 standard deviations below average. If you look at that, even in this rally, investors are offsides.”

Joe Terranova, senior managing director at Virtus Investment Partners, said trade was driving the conversation:

“I believe that the consumer remains strong. I believe that the consumer is beginning to trend slightly lower given the circumstances that we are seeing as it relates to trade, the concerns there. I think housing is a struggle. Do I think housing enters a recessionary environment for housing itself? I don’t see that. You heard comments from Lennar executives talking specifically about that, and I think that’s incredibly important because you have the production deficit as they have cited. So, yes, you are pulling back, the consumer statistics are pulling back, and they are pulling back because of the rhetoric and concerns surrounding trade. ”

Stephanie Link, Nuveen’s head of global equities research, said stocks could be approaching a tipping point:

“I think that you’ve definitely seen a softening, but I do think that there are winners and losers. Because we’ve talked about that. I mean, there are the Nikes of the world, but then there’s the Foot Lockers of the world who are struggling, or the Kohl’s or Macy’s or some of the department stores. So, I think, within the consumer, I think they’re still OK. I really do think it’s OK. I think they’re OK because jobs and wages are OK. They’re still very good. But I worry, and I have worried, that the market is such a big component for the consumer. And if that rolls over, then all of a sudden you see the confidence roll over. ”

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Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: lizzy gurdus
Keywords: news, cnbc, companies, experts, think, dont, confidence, tariffs, riseheres, watching, consumer, fed, director, growth, sell, market, fears, ok, trade, stocks, going


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Executive director of Puerto Rico’s Oversight Board defends proposed restructuring deal

The executive director of Puerto Rico’s Oversight Board is standing by the restructuring agreement that it reached with a portion of bondholders to address $35 billion of Puerto Rico’s debt, despite the island’s government and a key creditor saying they will not sign on to the deal. The Plan Support Agreement has the support of creditors who hold approximately $3 billion in total of the island’s constitutionally guaranteed claims. However, the government of Puerto Rico and Assured Guaranty, a mo


The executive director of Puerto Rico’s Oversight Board is standing by the restructuring agreement that it reached with a portion of bondholders to address $35 billion of Puerto Rico’s debt, despite the island’s government and a key creditor saying they will not sign on to the deal. The Plan Support Agreement has the support of creditors who hold approximately $3 billion in total of the island’s constitutionally guaranteed claims. However, the government of Puerto Rico and Assured Guaranty, a mo
Executive director of Puerto Rico’s Oversight Board defends proposed restructuring deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: dawn giel leslie picker, dawn giel, leslie picker
Keywords: news, cnbc, companies, executive, restructuring, ricos, director, board, oversight, agreement, puerto, proposed, creditors, defends, rico, guaranty, support, jaresko, deal


Executive director of Puerto Rico's Oversight Board defends proposed restructuring deal

The executive director of Puerto Rico’s Oversight Board is standing by the restructuring agreement that it reached with a portion of bondholders to address $35 billion of Puerto Rico’s debt, despite the island’s government and a key creditor saying they will not sign on to the deal.

The agreement, which was unveiled late on Sunday, is on the framework for the plan of adjustment and would slash the amount of Commonwealth related bonds outstanding by more than 60% to less than $12 billion.

“I believe this is part of a process and you have to begin somewhere and you have to reach an agreement with some group, which we’ve done with the groups that were announced yesterday,” Natalie Jaresko told CNBC’s Leslie Picker in an exclusive interview. “And now that it’s become public, we are very eager, willing to continue these discussions with all the other groups of creditors as well as the bond insurers,” Jaresko said.

The Plan Support Agreement has the support of creditors who hold approximately $3 billion in total of the island’s constitutionally guaranteed claims. However, the government of Puerto Rico and Assured Guaranty, a monoline insurer that has $1.5 billion of net par exposure to the bonds covered in the proposed deal, have rejected the deal.

“This ‘deal,’ backed by barely 10 percent of Commonwealth guaranteed and GO creditors, who bought positions at prices substantially below par, failed to include the largest general obligation creditors who have supported Puerto Rico for decades, and is a disservice to the residents and long term stakeholders of the island,” Assured Guaranty said in a written statement provided to CNBC.

When asked about this point, Jaresko said “I don’t think we should look at it as 90% of them not signing on, in the sense that there are different classes and different interests and you have to look at each class individually.” Jaresko, who was appointed executive director of the Oversight Board in March 2017, continued by saying the group of bondholders that have signed on to the proposed deal account for “a significant amount” and believes that making the deal public last night will help build further creditor support.

Almost immediately following the release of the proposed deal, the government of Puerto Rico issued a statement rejecting the deal, citing the administration’s strong opposition to any cuts to retiree’s benefits.

“The government of Puerto Rico seems determined to not support this agreement though this agreement provides for sustainable, affordable debt and secures pensions,” Jaresko said. “They seem to be determined regardless of whether it’s in the interest of the Commonwealth or not….this agreement focuses and assures the single most important thing that current and future administrations do not undermine again the financial stability of the pension system.”

Assured Guaranty also stated that the company could not support “an agreement that would prolong expensive litigation, while harming Puerto Rico’s long-term economic success and the national municipal bond market.”

Jaresko, who is anticipating the plans of adjustment to be filed within thirty days, does note that the proposed terms of the plan of adjustment are not set in stone and says, “there can be amendments going forward.”

“There’s still quite a bit of room to work with bondholders here to bring in additional classes, and to reach an even more consensual agreement,” Jaresko said.

Assured Guaranty says that the company “continues to encourage the start of negotiations among Puerto Rico’s most important stakeholders,” but warns the Oversight Board that it is prepared “to litigate this to the fullest extent to protect our rights, those of municipal bond investors, and the rule of law.”

“I look forward to working with the other groups of creditors to bring this to a close as soon as possible,” Jaresko said.


Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: dawn giel leslie picker, dawn giel, leslie picker
Keywords: news, cnbc, companies, executive, restructuring, ricos, director, board, oversight, agreement, puerto, proposed, creditors, defends, rico, guaranty, support, jaresko, deal


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‘Sonic the Hedgehog’ director promises Sonic redesign after fan backlash, but changes could be costly for Paramount

Just days after releasing the first official trailer for “Sonic the Hedgehog,” the film’s director took to social media to try and assuage disgruntled fans. You guys missed your chance Paramount,” one user commented on the YouTube video of the trailer. This wasn’t the first sign that fans were unhappy with the character design, either. When Paramount released one of the official promotional posters for the film, fans griped about the strange length of Sonic’s legs, expressing worry about what th


Just days after releasing the first official trailer for “Sonic the Hedgehog,” the film’s director took to social media to try and assuage disgruntled fans. You guys missed your chance Paramount,” one user commented on the YouTube video of the trailer. This wasn’t the first sign that fans were unhappy with the character design, either. When Paramount released one of the official promotional posters for the film, fans griped about the strange length of Sonic’s legs, expressing worry about what th
‘Sonic the Hedgehog’ director promises Sonic redesign after fan backlash, but changes could be costly for Paramount Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: sarah whitten
Keywords: news, cnbc, companies, costly, redesign, fan, sonic, media, changes, character, backlash, director, trailer, studios, fans, paramount, hedgehog, social, design, film, promises


'Sonic the Hedgehog' director promises Sonic redesign after fan backlash, but changes could be costly for Paramount

Just days after releasing the first official trailer for “Sonic the Hedgehog,” the film’s director took to social media to try and assuage disgruntled fans.

The less-than-three-minute trailer, which debuted on Tuesday, was widely criticized on Twitter, Reddit and other social platforms for its tone and the design of the titular character.

Longtime fans of the speedy blue hedgehog found the character’s facial features, including human-like teeth, and his body proportions to be inconsistent with the Sonic they grew up with in the ’90s.

“April fools was 29 days ago. You guys missed your chance Paramount,” one user commented on the YouTube video of the trailer.

This wasn’t the first sign that fans were unhappy with the character design, either. When Paramount released one of the official promotional posters for the film, fans griped about the strange length of Sonic’s legs, expressing worry about what the full character would look like.

These criticisms were taken to heart by Paramount and Sega, the company behind the character. On Thursday, director Jeff Fowler said “the message is loud and clear.”

“You aren’t happy with the design & you want changes,” he wrote on Twitter. “It’s going to happen. Everyone at Paramount & Sega are fully committed to making this character the BEST he can be.”

“This demonstrates the power of social media and the value it can bring to filmmakers and studios in terms of providing direct feedback from the fans who, at the end of the day, are the folks you ultimately want to please,” said Paul Dergarabedian, senior media analyst at Comscore.

“This type of organic social media-based conversation provides de facto real time market research and, when respectful and constructive, can be highly valuable to studios and producers looking to get the best results from their films,” he said.

It’s unclear exactly how Fowler plans to fix the character, especially considering the film is due out in theaters in November, less than six months away.

Paramount Pictures and Blur Studios did not immediately respond to CNBC’s request for comment. Paramount is owned by Viacom, which saw its stock down around 2% on Friday.

The filming budget for “Sonic” is estimated to be around $90 million, but going back and changing the CGI animation could be quite costly for the production company.

Not only do artists have to redesign elements of the character, but they also have to reinsert it into every scene of the likely already completed film and then render it, which takes a lot of computing power and time.

“I have to give the studio and director credit for running the cost benefit analysis and, for the good of the movie and the fans, making the changes,” Dergarabedian said.

It also doesn’t help Paramount that the “Sonic” trailer arrives just as Warner Bros. has been receiving praise for its character design for the upcoming “Detective Pikachu” due out next week.


Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: sarah whitten
Keywords: news, cnbc, companies, costly, redesign, fan, sonic, media, changes, character, backlash, director, trailer, studios, fans, paramount, hedgehog, social, design, film, promises


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Berkshire Director: Nothing indicating downward shift in the economy

Berkshire Director: Nothing indicating downward shift in the economy9:14 AM ET Fri, 3 May 2019Sue Decker, a director at Berkshire Hathaway and former president of Yahoo, sits down with CNBC’s Becky Quick to discuss the regulation of social media, her thoughts on IPOs, and more.


Berkshire Director: Nothing indicating downward shift in the economy9:14 AM ET Fri, 3 May 2019Sue Decker, a director at Berkshire Hathaway and former president of Yahoo, sits down with CNBC’s Becky Quick to discuss the regulation of social media, her thoughts on IPOs, and more.
Berkshire Director: Nothing indicating downward shift in the economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-03
Keywords: news, cnbc, companies, shift, regulation, quick, social, media, downward, economy, indicating, thoughts, sits, director, president, berkshire


Berkshire Director: Nothing indicating downward shift in the economy

Berkshire Director: Nothing indicating downward shift in the economy

9:14 AM ET Fri, 3 May 2019

Sue Decker, a director at Berkshire Hathaway and former president of Yahoo, sits down with CNBC’s Becky Quick to discuss the regulation of social media, her thoughts on IPOs, and more.


Company: cnbc, Activity: cnbc, Date: 2019-05-03
Keywords: news, cnbc, companies, shift, regulation, quick, social, media, downward, economy, indicating, thoughts, sits, director, president, berkshire


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Democrats aim to roll back Mulvaney’s ‘anti-consumer’ measures at nation’s watchdog agency

The letter from Majority Leader Steny Hoyer, D-Maryland, said the measure is one of many that the House may vote on next month. Kathy Kraninger, director of the Consumer Financial Protection Bureau (CFPB) nominee for U.S. President Donald Trump, speaks during a Senate Banking Committee confirmation hearing in Washington, D.C., July 19, 2018. “I think it’s just an opportunity for Democrats to vent about their unhappiness over Mulvaney having been acting director.” After the bureau’s formation, Re


The letter from Majority Leader Steny Hoyer, D-Maryland, said the measure is one of many that the House may vote on next month. Kathy Kraninger, director of the Consumer Financial Protection Bureau (CFPB) nominee for U.S. President Donald Trump, speaks during a Senate Banking Committee confirmation hearing in Washington, D.C., July 19, 2018. “I think it’s just an opportunity for Democrats to vent about their unhappiness over Mulvaney having been acting director.” After the bureau’s formation, Re
Democrats aim to roll back Mulvaney’s ‘anti-consumer’ measures at nation’s watchdog agency Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: sarah obrien
Keywords: news, cnbc, companies, roll, measures, director, financial, bureau, mulvaney, cfpb, services, agency, house, aim, kaplinsky, democrats, trump, watchdog, nations, anticonsumer, mulvaneys, consumer


Democrats aim to roll back Mulvaney's 'anti-consumer' measures at nation's watchdog agency

A bill that would reverse some controversial moves made at the nation’s consumer watchdog could get a floor vote in the House in May, according to a letter that Democratic lawmakers received from their leadership late last week. The Consumers First Act, which was approved 34-26 by the House Financial Services Committee in late March, would require the Consumer Financial Protection Bureau to “promptly reverse all anti-consumer actions” made under its previous acting director, Mick Mulvaney, who is now President Trump’s acting chief of staff. The letter from Majority Leader Steny Hoyer, D-Maryland, said the measure is one of many that the House may vote on next month. Among other provisions, the legislation would require the bureau’s consumer complaint database to remain public, eliminate the director’s ability to limit the legal reach of its fair lending office and establish an Office of Students and Young Consumers to focus on financial education in that population.

Kathy Kraninger, director of the Consumer Financial Protection Bureau (CFPB) nominee for U.S. President Donald Trump, speaks during a Senate Banking Committee confirmation hearing in Washington, D.C., July 19, 2018. Andrew Harrer | Bloomberg | Getty Images

While the bill — sponsored by Financial Services Committee Chairwoman Maxine Waters, D-California — might get approved in the Democratic-controlled House, it would likely face an uphill battle in the Republican-dominated Senate. “I don’t see this going anywhere,” said Alan Kaplinsky, a partner at the national law firm Ballard Spahr and an expert on the CFPB. “I think it’s just an opportunity for Democrats to vent about their unhappiness over Mulvaney having been acting director.” Now under the direction of Trump appointee Kathy Kraninger, who replaced Mulvaney in December, the CFPB has been a point of political contention since its creation was legislated by the Dodd-Frank Act of 2010.

After the bureau’s formation, Republicans and the financial services industry decried what they considered overzealous regulatory overreach by its Obama-appointed director, Richard Cordray. Then Democratic lawmakers and consumer advocates cried foul when Mulvaney, who was named by Trump to replace Cordray in late 2017, pulled back enforcement and began reviewing existing policies and pending regulations. Kraninger recently indicated that the bureau is still exploring whether its public consumer complaint database should be private, along with reviewing how it measures whether a company is using discriminatory lending practices, according to published reports. Among other controversial moves, the agency also is still reviewing the so-called payday lending rule, which would require lenders to confirm the borrower’s ability to repay the debt. The CFPB did not respond to an inquiry from CNBC. Meanwhile, three cases in different federal circuit courts challenge the constitutionality of the bureau, at least partly on the grounds that its single-director structure puts too much power in the hands of the president. More from Personal Finance:

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Adult children eat into parents’ retirement savings: Study “One or more of the cases likely will end up in the Supreme Court, probably within the next year,” Kaplinsky said. If the bureau were ruled unconstitutional by the high court, the question would be how to fix that defect, Kaplinsky said. One solution that would help remove the politicization of the bureau would be to replace a solo director with a five-member commission, he said. It’s an idea that’s been bandied about but has yet to take hold with lawmakers. “The FCC [Federal Communications Commission] has a five-member commission,” Kaplinsky said. “Republicans have three of the spots and Democrats have two.

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Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: sarah obrien
Keywords: news, cnbc, companies, roll, measures, director, financial, bureau, mulvaney, cfpb, services, agency, house, aim, kaplinsky, democrats, trump, watchdog, nations, anticonsumer, mulvaneys, consumer


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John Singleton, maker of ‘Boyz N the Hood,’ dies at 51

Director John Singleton arrives at the 81st Annual Academy Awards held at Kodak Theatre on February 22, 2009 in Los Angeles, California. Filmmaker John Singleton, who debuted with the Oscar-nominated “Boyz N the Hood” and continued making movies that probed the lives of black communities in his native Los Angeles and beyond, has died. “Boyz N the Hood” was based on Singleton’s upbringing and shot in his old neighborhood. Reports earlier in the day had said Singleton died Monday morning. But a re


Director John Singleton arrives at the 81st Annual Academy Awards held at Kodak Theatre on February 22, 2009 in Los Angeles, California. Filmmaker John Singleton, who debuted with the Oscar-nominated “Boyz N the Hood” and continued making movies that probed the lives of black communities in his native Los Angeles and beyond, has died. “Boyz N the Hood” was based on Singleton’s upbringing and shot in his old neighborhood. Reports earlier in the day had said Singleton died Monday morning. But a re
John Singleton, maker of ‘Boyz N the Hood,’ dies at 51 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, dies, mother, boyz, support, 51, singletons, john, director, nomination, los, hood, maker, died, angeles, singleton


John Singleton, maker of 'Boyz N the Hood,' dies at 51

Director John Singleton arrives at the 81st Annual Academy Awards held at Kodak Theatre on February 22, 2009 in Los Angeles, California.

Filmmaker John Singleton, who debuted with the Oscar-nominated “Boyz N the Hood” and continued making movies that probed the lives of black communities in his native Los Angeles and beyond, has died. He was 51.

Singleton’s family said Monday that he died after being taken off life support, about two weeks after the director suffered a major stroke.

“Boyz N the Hood” was based on Singleton’s upbringing and shot in his old neighborhood. It starred Cuba Gooding Jr. as a rebellious teen whose single mother sends him to live with his father in South Central Los Angeles.

Singleton became the first black director to receive an Academy Award nomination, and the youngest to do so, and also received a screenplay nomination. His other films included “Poetic Justice,” ”Rosewood” and “Shaft.”

Reports earlier in the day had said Singleton died Monday morning. But a representative for Singleton said those reports were inaccurate and that Singleton, at the time, remained on life support in intensive care in a Los Angeles hospital.

A court filing last week by his mother, Shelia Ward, requested that she be appointed Singleton’s temporary conservator in order to make medical and financial decisions while he is incapacitated.


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, dies, mother, boyz, support, 51, singletons, john, director, nomination, los, hood, maker, died, angeles, singleton


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Turkish central bank needs to be ‘fully independent,’ IMF’s Europe director says

Economic and political developments in Turkey have had investors worried for more than a year now. One of the country’s most immediate needs if it wants to get its house in order is to ensure total independence of its central bank, according to the man who led the bailouts of Greece, Portugal, Iceland and Ukraine during the Great Recession. “So we welcome the increase we’ve seen in interest rates in the last six to seven months, but it’s important that the Turkish central bank be allowed to be f


Economic and political developments in Turkey have had investors worried for more than a year now. One of the country’s most immediate needs if it wants to get its house in order is to ensure total independence of its central bank, according to the man who led the bailouts of Greece, Portugal, Iceland and Ukraine during the Great Recession. “So we welcome the increase we’ve seen in interest rates in the last six to seven months, but it’s important that the Turkish central bank be allowed to be f
Turkish central bank needs to be ‘fully independent,’ IMF’s Europe director says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: natasha turak, chris mcgrath, getty images
Keywords: news, cnbc, companies, fully, director, central, bank, europe, number, turkish, needs, independence, challenges, monetary, imfs, independent, policy


Turkish central bank needs to be 'fully independent,' IMF's Europe director says

Economic and political developments in Turkey have had investors worried for more than a year now.

One of the country’s most immediate needs if it wants to get its house in order is to ensure total independence of its central bank, according to the man who led the bailouts of Greece, Portugal, Iceland and Ukraine during the Great Recession.

“Turkey faces a number of challenges, and one of them is that the central bank needs to be fully independent so it can continuously assess and tighten policies as circumstances change in a forward-looking manner,” Poul Thomsen, director of the International Monetary Fund’s Europe department, told CNBC’s Joumanna Bercetche during the IMF Spring Meetings in Washington, D.C. over the weekend.

“So we welcome the increase we’ve seen in interest rates in the last six to seven months, but it’s important that the Turkish central bank be allowed to be fully independent in its assessment of monetary policy in addition to a number of other challenges on fiscal policy, and more transparency.”

Turkey’s economy is already in recession, rocked last year after fears over government interference into central bank independence, over-leveraged banks, a large current account deficit and a diplomatic spat with the U.S. triggered investor and capital flight. The lira lost 36 percent of its value against the dollar by the end of 2018.


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: natasha turak, chris mcgrath, getty images
Keywords: news, cnbc, companies, fully, director, central, bank, europe, number, turkish, needs, independence, challenges, monetary, imfs, independent, policy


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OMB acting Director Russell Vought on Trump $8.6 billion wall request

The White House is expected to release Trump’s budget proposal for fiscal year 2020 on Monday. It is expected to seek $8.6 billion from Congress for additional barriers along the U.S.-Mexico border. The states said Trump is “trying to rob funds that were allocated by Congress legally to various states.” According to the U.S. Customs and Border Protection, more than 76,000 migrants crossed the U.S.-Mexico border last month, more than double the number from the same period last year. WATCH: Virtua


The White House is expected to release Trump’s budget proposal for fiscal year 2020 on Monday. It is expected to seek $8.6 billion from Congress for additional barriers along the U.S.-Mexico border. The states said Trump is “trying to rob funds that were allocated by Congress legally to various states.” According to the U.S. Customs and Border Protection, more than 76,000 migrants crossed the U.S.-Mexico border last month, more than double the number from the same period last year. WATCH: Virtua
OMB acting Director Russell Vought on Trump $8.6 billion wall request Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: berkeley lovelace jr, cnbc, kyle walsh
Keywords: news, cnbc, companies, russell, billion, usmexico, trumps, request, acting, 86, congress, white, states, trump, budget, wall, omb, director, border, vought


OMB acting Director Russell Vought on Trump $8.6 billion wall request

Russell Vought, acting White House budget director, said Monday security at the southern U.S. border is “deteriorating by the day,” and he’s blaming Democrats for refusing to approve President Donald Trump’s repeated requests for wall funding.

“This is an area of where we’re tired of being right,” Vought said on CNBC’s “Squawk Box,” referring to a government report of a record number of migrant families crossing the U.S.-Mexico border.

The White House is expected to release Trump’s budget proposal for fiscal year 2020 on Monday. It is expected to seek $8.6 billion from Congress for additional barriers along the U.S.-Mexico border.

That amount would be on top of the funds Trump will redirect from other programs as part of his national emergency, said Vought, who’s minding the Office of Management and Budget after previous OMB head Mick Mulvaney left the agency to become the president’s acting chief of staff.

Trump’s declaration last month, aimed at circumventing Congress to pay for his wall, is currently being challenged by more than a dozen states. The states said Trump is “trying to rob funds that were allocated by Congress legally to various states.”

House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer said they had hoped Trump “learned his lesson” after failing to get his wall funding following the partial government shutdown earlier this year.

“Congress refused to fund his wall and he was forced to admit defeat and reopen the government. The same thing will repeat itself if he tries this again,” they said in a joint statement Sunday.

According to the U.S. Customs and Border Protection, more than 76,000 migrants crossed the U.S.-Mexico border last month, more than double the number from the same period last year. The figures help Trump’s case for his border emergency, albeit one built around a humanitarian crisis and not security.

WATCH: Virtual walls could be the cheaper and more effective answer to Trump’s border wall


Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: berkeley lovelace jr, cnbc, kyle walsh
Keywords: news, cnbc, companies, russell, billion, usmexico, trumps, request, acting, 86, congress, white, states, trump, budget, wall, omb, director, border, vought


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