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Thursday Express: GSE privatization plan nears release; Goldman mulls unit sale

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Thursday Express: GSE privatization plan nears release; Goldman mulls unit sale

* The plan to finally return Fannie Mae and Freddie Mac to private ownership is underway, with an announcement likely to come following the September Labor Day holiday, sources told The Wall Street Journal. However, as much as officials of the Trump administration would want a more comprehensive change in U.S. housing finance, a divided hold of Republicans and Democrats in Congress would leave little room for lawmakers to enact sweeping reforms.

* Comptroller of the Currency Joseph Otting told a group of more than 50 community organizers, redevelopment organizations and bankers in Washington, D.C., that the reform proposal for the Community Reinvestment Act is targeted to be released by the end of September. The proposed rule will cap months of comment reviews as well as stakeholder and regulator meetings, and it will be the CRA's first update since 2005.

* The U.S. Securities and Exchange Commission approved two new sets of guidance on the regulation of proxy advisory firms and the increasingly prevalent roles those firms play in the U.S. corporate governance system.

* The SEC charged New York-based broker/dealer AOC Securities and Ronaldo Gonzalez, the firm's former CEO, for allegedly failing to oversee a broker who gave inflated price quotes for certain securities to investment adviser and AOC client Premium Point Investments.

* Goldman Sachs is considering a sale of auto warranty company Safe-Guard Products International, but there is no certainty a deal will be announced, sources told Reuters.

* Goldman is also eyeing to hire more than 100 engineers for its trading division as part of bigger efforts to automate trades and help build out Marquee, the company's web services platform, Bloomberg News reports.

* Most officials of the Federal Reserve viewed the central bank's July 31 policy easing as a "mid-cycle adjustment" rather than the first of several interest rate cuts, according to minutes of the Fed's meeting. While many investors expect the Fed to opt for more rate cuts this year, officials declined to explicitly signal further policy easing during the meeting.

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