Politics

Treasury Secretary Scott Bessent said he expects negotiations with trading partners over tariffs to conclude by the end of the year but acknowledged that talks with China had not yet begun.

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.

The administration is pitching a $26.7 billion reduction to the regulator's funding for rental assistance, public housing and elderly and disability housing.

A new survey conducted by IntraFi found that nearly three-quarters of bank executives say a recession is here or imminent, and tariffs now rank among their top three economic concerns.

The Federal Reserve's preferred inflation reading fell in March, but the positive reading came before new trade policies hit the economy.

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.

In its latest financial stability report, the Federal Reserve found that asset prices continue to exceed underlying fundamentals and leverage levels remain high, especially by hedge funds.

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.

Federal Reserve Gov. Adriana Kugler said tighter monetary policy has proved to be less impactful on nonbank lenders during the post-pandemic era.