Trump administration

A second-term Trump administration would likely continue its deregulatory efforts, focus on Fannie Mae and Freddie Mac's exit from conservatorship, and seek to facilitate fintech participation in the banking system.

Tom Pahl, a former longtime regulator at the Federal Trade Commission, has led key rulemaking efforts for the consumer bureau.

The Senate had passed the bill Tuesday, shortly before the Small Business Administration was to stop accepting new loan applications.

In a split 5-4 decision, the justices gave presidents new power to remove the agency's head at will. The ruling could have far-reaching implications for other regulators with single directors.

The Treasury secretary said recent government moves will help the firms get through the risk of millions of borrowers missing their loan payments.

After budget cuts and a strategic transition, the interagency body conceived by Dodd-Frank to identify systemic threats has largely been silent as the pandemic roils the economy.

The temporary foreclosure moratorium on loans backed by HUD, Fannie Mae and Freddie Mac comes after lawmakers and housing advocates had pushed for steps to avoid consumers getting booted from their homes.

Banks may be protected from a direct hit, but they have invested in vehicles that include such loans, potentially exposing them to defaults.

The court’s liberal bloc and Chief Justice John Roberts, who holds a crucial swing vote, appeared reluctant to remove a contentious provision that limits a president’s ability to fire a sitting director of the bureau.

John Roberts could play a familiar role as the swing vote in determining whether the Supreme Court curbs the consumer bureau’s power.