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Craig Phillips Leaves Treasury Before Fannie Report Is Finished

Austin Weinstein
(Bloomberg) -- Craig Phillips, a top aide to Treasury Secretary Steven Mnuchin, left the agency last week before the release of a housing-finance plan he was expected to finish, according to people familiar with the matter.Phillips, who said in May that he was planing to step down, led the Treasury Department’s effort to draft a plan to get Fannie Mae and Freddie Mac out of U.S. conservatorship. Federal Housing Finance Agency Director Mark Calabria said last week that he hoped Treasury’s plan to return the companies to private ownership would come by the end of the month. The White House is reviewing a draft of the proposal, people familiar with the matter have said.Read More: Trump’s Architect of Wall Street Deregulation to Leave TreasuryPhillips didn’t respond to a request for comment. His name was also removed from a list of Treasury department officials and an message to his Treasury email bounced was returned as undeliverable.Phillips, a former BlackRock and Morgan Stanley executive, was also the architect of much of the President Donald Trump’s plan for relaxing regulation of Wall Street bank and Treasury’s point person for banks and asset managers. He was Mnuchin’s pick for FHFA director, according to a person familiar with the matter, an appointment that ultimately went to Calabria.To contact the reporter on this story: Austin Weinstein in New York at aweinstein18@bloomberg.netTo contact the editors responsible for this story: Jesse Westbrook at jwestbrook1@bloomberg.net, Gregory MottFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

(Bloomberg) -- Craig Phillips, a top aide to Treasury Secretary Steven Mnuchin, left the agency last week before the release of a housing-finance plan he was expected to finish, according to people familiar with the matter.

Phillips, who said in May that he was planing to step down, led the Treasury Department’s effort to draft a plan to get Fannie Mae and Freddie Mac out of U.S. conservatorship. Federal Housing Finance Agency Director Mark Calabria said last week that he hoped Treasury’s plan to return the companies to private ownership would come by the end of the month. The White House is reviewing a draft of the proposal, people familiar with the matter have said.

Read More: Trump’s Architect of Wall Street Deregulation to Leave Treasury

Phillips didn’t respond to a request for comment. His name was also removed from a list of Treasury department officials and an message to his Treasury email bounced was returned as undeliverable.

Phillips, a former BlackRock and Morgan Stanley executive, was also the architect of much of the President Donald Trump’s plan for relaxing regulation of Wall Street bank and Treasury’s point person for banks and asset managers. He was Mnuchin’s pick for FHFA director, according to a person familiar with the matter, an appointment that ultimately went to Calabria.

To contact the reporter on this story: Austin Weinstein in New York at aweinstein18@bloomberg.net

To contact the editors responsible for this story: Jesse Westbrook at jwestbrook1@bloomberg.net, Gregory Mott

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.