Ryan Rainey
Morning Consult
Hyattsville, MD, United States
Contact Ryan
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Past articles by Ryan:
Finance Brief: Week in Review & What's Ahead
, according to two people familiar with the issue, which affects mainly smaller firms. The review, led by the Office of Compliance Inspections and Examinations, is asking the firms about their fees and how they deal with clients, amid a broader crackdown on potential misconduct in digital currencies. → Read More
Finance Brief: Week in Review & What's Ahead
With over one in three voters saying they use cash less now than they have in the past, more people are starting to rely on electronic payments as a safe and easy way to pay every day. With the popularity of mobile wallets, online payments, and other technologies expected to grow even further, we must continue to prioritize innovation. → Read More
Finance Brief: SEC Rejects Bid for Bitcoin Exchange-Traded Fund
By Ryan Rainey Top Stories The Securities and Exchange Commission denied a bid for the first bitcoin exchange-traded fund in a 3-1 vote. Cameron and Tyler Winklevoss, who proposed the ETF for the second time, argued unsuccessfully to the SEC that bitcoin could effectively avoid market manipulation. (CNBC) The Senate unanimously passed a miscellaneous tariff … → Read More
Plurality Of Voters Say Consumer Protection Has Gotten Worse Under Trump
With President Donald Trump’s nominee to lead the country’s top consumer finance watchdog moving along in the congressional confirmation process, a plurality of voters surveyed in a recent Morning Consult/Politico poll said they think consumer protection has gotten worse since Trump became president. → Read More
Finance Brief: Hensarling, Waters Reach Deal on Package Dialing Back Financial Rules
By Ryan Rainey Top Stories House Financial Services Committee Chairman Jeb Hensarling and Rep. Maxine Water (Calif.), the panel’s leading Democrat, reached a deal that will allow 32 measures aimed at bringing down regulatory barriers to initial public offerings to come before the House this week. The package mostly makes minor tweaks to regulations, and … → Read More
Finance Brief: NEC Member Shahira Knight to Replace Marc Short as Legislative Affairs Director
By Ryan Rainey Top Stories Shahira Knight, who has served as a high-ranking official at the National Economic Council, was announced as the next White House legislative affairs director following the departure of Marc Short. Knight, who was instrumental in pushing for the tax law enacted last year, had previously said she was leaving the … → Read More
Finance Brief: Administration Announces New Task Force to Investigate and Prosecute Consumer Fraud
By Ryan Rainey Top Stories Administration officials announced a new executive task force, established through an executive order signed by President Donald Trump, that will bring together different areas of the government to probe and prosecute consumer fraud. Major financial regulatory agencies such as the Consumer Financial Protection Bureau and the Securities and Exchange Commission … → Read More
Finance Brief: Mulvaney Names Brian Johnson as CFPB Acting Deputy Director
By Ryan Rainey Top Stories Brian Johnson, who has served as policy director at the Consumer Financial Protection Bureau under acting Director Mick Mulvaney, was named as the bureau’s acting deputy director. Johnson, a former staffer for House Financial Services Committee Chair Jeb Hensarling (R-Texas), replaces Leandra English as deputy director following English’s decision to … → Read More
Finance Brief: English Leaving CFPB and Dropping Lawsuit for Acting Director Post
By Ryan Rainey Top Stories Leandra English, the deputy director of the Consumer Financial Protection Bureau, announced she is leaving the CFPB and that she plans to drop a lawsuit seeking to install her, rather than Mick Mulvaney, as the bureau’s acting director. English attributed her decision to President Donald Trump’s move to name a … → Read More
Finance Brief: Deutsche Bank's U.S. Unit Fails Federal Reserve Stress Test
By Ryan Rainey and Morgan Halvorsen Top Stories Deutsche Bank AG’s U.S. unit failed the second round of the Federal Reserve’s annual stress tests, with the central bank citing “widespread and critical deficiencies” in capital planning controls. The Fed said in a statement that the test prompted concerns regarding “material weaknesses in the firm’s data … → Read More
Finance Brief: CFPB Reportedly Halved Payday Lender Penalty Under Mulvaney
By Ryan Rainey Top Stories The $5 million fine that the Consumer Financial Protection Bureau ordered payday lender Security Finance to pay for intrusive debt collection practices and data handling deficiencies was less than half of what the CFPB sought under former Director Richard Cordray, according to three unnamed sources familiar with the decision. Cordray … → Read More
Finance Brief: Everett Eissenstat Set to Leave NEC Early Next Month
By Ryan Rainey Top Stories Everett Eissenstat, a leading international economic policy official at the National Economic Council who has been seen as an important pro-trade voice within the White House, is set to leave the administration early next month. Eissenstat worked at the NEC under former Director Gary Cohn, though White House officials said … → Read More
Finance Brief: SEC Fines Wells Fargo More Than $5.1 Million for Market-Linked Investment Sale Misconduct
By Ryan Rainey Top Stories The Securities and Exchange Commission fined Wells Fargo & Co. more than $5.1 million over allegations that its brokerage unit, Wells Fargo Advisors, improperly pushed retail investors into complex products with the goal of bringing in more income from fees. The activity took place between January 2009 and June 2013, … → Read More
Finance Brief: SEC Freezes 12 In-House Cases After Supreme Court Decision
By Ryan Rainey Top Stories The Securities and Exchange Commission put a hold on 12 cases being handled by its administrative law judges following last week’s Supreme Court ruling that the agency incorrectly appointed the officers, who are responsible for handling SEC enforcement actions. The Supreme Court found that the use of the civil service … → Read More
Finance Brief: 5th Circuit Court of Appeals Officially Vacates Labor Department's Fiduciary Rule
By Ryan Rainey Top Stories The Labor Department’s fiduciary rule for retirement investment advisers is no longer effective, following a mandate released by the U.S. Court of Appeals for the 5th Circuit that finalized a March ruling that vacated the rule. The appeals court also ordered the Labor Department to compensate the financial industry groups … → Read More
Finance Brief: Treasury Department to Release New Postcard-Sized 1040 Filing Form Next Week
By Ryan Rainey Top Stories Treasury Secretary Steven Mnuchin said his department next week will unveil a new 1040 filing form that will come in the form of a postcard. Mnuchin said the new form will cut the amount of time taxpayers spend working on their returns, including by cutting the amount of pages on … → Read More
Finance Brief: Voters Stay Split on Whether Tariffs Are Good for the United States
By Ryan Rainey Top Stories Amid the ongoing trade tensions with China, a new poll shows public attitudes on the merits of the administration’s tariff push have barely changed since the escalation of economic confrontation with China. Thirty-eight percent of registered voters surveyed in the poll said tariffs on Chinese imports will help the U.S. … → Read More
Finance Brief: Week in Review & What's Ahead
With over one in three voters saying they use cash less now than they have in the past, more people are starting to rely on electronic payments as a safe and easy way to pay every day. With the popularity of mobile wallets, online payments, and other technologies expected to grow even further, we must continue to prioritize innovation. → Read More
Finance Brief: Trump Reportedly Decides to Impose Tariffs on $50 Billion of Chinese Imports
By Ryan Rainey Top Stories President Donald Trump has made a final decision to proceed with approximately $50 billion in tariffs on imports from China, unnamed sources briefed on the issue said, following a Thursday meeting with top economic officials. The White House is expected to formally announce the duties today. (Financial Times) Chrystia Freeland, … → Read More
Finance Brief: Darrell Issa Reportedly in the Running to Become New CFPB Director
By Ryan Rainey Top Stories Rep. Darrell Issa (R-Calif.), who isn’t running for re-election, is one of President Donald Trump’s leading candidates for director of the Consumer Financial Protection Bureau, according to unnamed sources familiar with the process. The administration is close to making a decision and is likely to announce the nominee by June … → Read More