Biden Administration

Acting Comptroller of the Currency Michael Hsu said he plans to prioritize "solving urgent problems and addressing pressing issues" until the Biden administration selects a permanent head of the agency.

The Treasury Department announced that Michael Hsu, a senior official at the Federal Reserve, would lead the national bank regulator until a Senate-confirmed comptroller is in place.

Cordray, named this week to lead the Education Department's office of federal student aid, cracked down on banks, student loan servicers and for-profit colleges when he was director of the Consumer Financial Protection Bureau.

Three months into President Biden’s term, the White House has yet to select a nominee to run the Office of the Comptroller of the Currency or pick an acting chief. That inaction will make it more difficult for Democrats to unwind Trump-era policies, critics say.

Gensler is poised to confront everything from the fallout of the GameStop trading frenzy to the collapse of Archegos Capital Management.

The agency announced it was rescinding seven policy statements issued last year meant to help companies combat fallout from COVID-19 but that the bureau's current chief said came at the expense of consumers.

The agency announced it was rescinding seven policy statements issued last year meant to help companies combat fallout from COVID-19 but that the bureau's current chief said came at the expense of consumers.

The full Senate could deadlock on Rohit Chopra’s nomination as the Banking Committee did. If that happens, Vice President Kamala Harris is expected to cast the decisive vote in his favor.

Relying on retained earnings alone, it would be until at least 2036, if not longer, before government control of Fannie Mae and Freddie Mae might end.

In its final days, the Trump administration imposed limits on Fannie Mae and Freddie Mac’s holdings of mortgages with loan-to-value ratios above 90% and certain other characteristics. Critics say the changes were unnecessary and disproportionately penalize borrowers of color.