Claire Williams

A dramatic boardroom purge at the NCUA has unleashed a fierce debate over the future of credit unions, and whether they're still serving their original mission.

The Senate Banking Committee passed a housing package that includes funding for manufactured and other kinds of housing, but also includes an appraisal provision that mortgage bankers oppose.

Calls for applications for a bank-specific program within the Community Development Financial Institution Fund have been delayed, raising the possibility that those funds are unspent before the appropriated money expires.

As the Federal Reserve considers changes to the supplemental leverage ratio, Fed Board Chair Jerome Powell said that effort is one piece of a broader deregulation package that will also address the Basel III capital rules.

Federal Reserve Chair Jerome Powell testified in the House Tuesday on the heels of yet another pointed social media post from President Donald Trump. But House Republicans largely avoided landing political blows against the central bank chair.

The Senate voted to confirm Federal Reserve Gov. Michelle Bowman's nomination to be the vice chair for supervision at the central bank in a 48-46 party-line vote.

Elon Musk, formerly head of the Department of Government Efficiency, said he will officially leave the federal government after a short but tumultuous tenure. DOGE's actions at the Consumer Financial Protection Bureau are being reviewed in federal court.

The Trump administration says it will nominate Jonathan McKernan to serve as Treasury undersecretary for domestic finance. McKernan has already been nominated as the next director of the Consumer Financial Protection Bureau.

A federal judge has ordered FDATR, a now-defunct student loan debt relief provider, to pay $43 million in restitution and fees, bucking the trend of cases brought by the Biden administration-era Consumer Financial Protection Bureau being dropped.

President Donald Trump's proposed budget would nix funding for Community Development Financial Institutions in minority-heavy areas while expanding it for rural areas.

Rapid deregulation, tariffs and a campaign to dismantle the Consumer Financial Protection Bureau have defined the early days of President Donald Trump's second term for bankers.

Sen. Dick Durbin, the Senate's No. 2 Democrat, announced he will not seek reelection in 2026, concluding more than four decades in Congress. The Illinois lawmaker leaves behind a notable imprint on U.S. financial policy, particularly regarding swipe fees.

House Financial Services Committee ranking member Maxine Waters, D-Calif., led a group of Democrats in challenging Treasury Secretary Scott Bessent over the current state of the Community Development Financial Institutions Fund.

The Consumer Financial Protection Bureau is laying off more than 1,400 employees just days after a panel of judges said the bureau couldn't fire employees without an assessment of whether the workers are unnecessary to perform the bureau's legally mandated duties.

Senate Banking Committee Chairman Tim Scott said Jonathan McKernan's final confirmation vote to lead the Consumer Financial Protection Bureau is "imminent."

House Republicans, led by House Financial Services Committee Chairman French Hill, R-Ark., outlined their priorities for the Trump administration's banking agenda in a series of letters to key regulators.

The Treasury Department told the OMB that all 11 programs in the CDFI Fund are statutorily mandated. The White House said "no final decisions have been made" about the programs.

President Donald Trump's executive order severely limiting the Treasury's Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.

President Donald Trump said he inherited an "economic catastrophe" from his predecessor in a joint address to Congress, though markets fell Tuesday on fears of a budding trade war with Canada and Mexico.

At a court hearing on Monday, lawyers for the Trump administration said statutorily required work is being done by the Consumer Financial Protection Bureau, while the union claimed the government is trying to shut the agency down.