President Barack Obama had much to reflect on prior to unveiling his final budget plan for Fiscal Year 2017, but one theme remained consistent in every part of his speech to Congress and the U.S. today—economic strength is the key to America's future.
The president’s budget plan, which will go into effect October 1, 2016, talks about several reforms, including a tax reform plan that would modernize the business tax code to make it fairer and more efficient, and to create jobs.The budget also includes a historic proposal regarding housing. According to an announcement from HUD, the president’s budget request for 11 billion dollars to end family homelessness in the budget.
The Office of the Comptroller of the Currency has terminated mortgage-servicing related enforcement actions against U.S. Bank and Santander, the agency announced Tuesday. The agency has levied a 10 million dollar civil penalty against U.S. Bank and a 3 point 4 million dollar civil penalty against Santander. The termination of the orders ends business restrictions that the banks were operating under since last June and completes the enforcement process that began with OCC orders against the banks in April 2011.