Trump administration

While Sen. Elizabeth Warren, D-Mass., is continuing to try and save the agency she helped create, Sen. Adam Schiff, D-Calif., who benefited from crypto spending in his primary race, is a new ally.

The Trump administration has installed Jeffrey Clark at the Consumer Financial Protection Bureau. Clark, a former environmental lawyer in the Justice Department in the first Trump administration, was indicted as part of the president's efforts to overturn the 2020 election.

The White House has tapped former Federal Deposit Insurance Corp. Director Jonathan McKernan to lead the Consumer Financial Protection Bureau and attorney Jonathan Gould to lead the Office of the Comptroller of the Currency late Tuesday.

In comments to reporters, Sen. Elizabeth Warren, D-Mass., underscored what she said was a conflict of interest between Elon Musk's DOGE's actions at the Consumer Financial Protection Bureau and his business interests with X Money.

Russell Vought, the Consumer Financial Protection Bureau's new acting director, ordered staff to stop all work and closed the agency's headquarters for a week.

Some mortgage stakeholders say Trump's tariffs would make interest rates rise and housing costs shoot up.

Treasury Secretary Scott Bessent, who was named to be acting director of the Consumer Financial Protection Bureau, has told the agency's staff to put a halt to all rules, enforcement actions and hiring.

The Consumer Financial Protection Bureau's Rohit Chopra in a letter to President Donald Trump confirmed that his "term as CFPB Director has concluded."

State banking associations across the country said that Michelle Bowman should be the Federal Reserve vice chair for supervision, not least because she already sits on the Fed board and could start immediately.

Russell Vought, should he be confirmed by the full Senate, would join a short list of those able to lead the CFPB, as his predecessor Mick Mulvaney did, per the requirements of the Vacancies Act.

The final vote was 68-29 in favor of Senate the confirmation of the billionaire hedge fund manager.

Experts say the Trump administration is waiting for Scott Bessent to be confirmed as treasury secretary and for other appointees to clear the Senate before naming acting heads at federal banking agencies.

Sunsetting the federal oversight of Fannie Mae and Freddie Mac could ease the cost of renewing President Trump's 2017 tax act, but doing so is an uphill battle.

A one-page outline of priorities for Trump's inauguration day obtained American Banker includes financial policy items, including firing Consumer Financial Protection Bureau Director Rohit Chopra, issuing a "reset" of that agency and designating crypto as a "national priority."

The incoming Trump administration's 'agency review team' has landed and is expected to name an acting director of the Consumer Financial Protection Bureau. Republicans on the Federal Deposit Insurance Corp. or the Federal Trade Commission are among the most likely candidates.

Economists say the U.S. economy is leaving 2024 healthy, with unemployment low, inflation manageable and growth robust. Unknown variables — including the depth and scope of President-elect Donald Trump's immigration and tariff policies — could change that course, but likely not until 2026.

A federal watchdog is looking into former Treasury Secretary Steven Mnuchin’s decision to roll back the U.S. Federal Reserve’s emergency lending programs at the end of 2020, an issue that has become a point of partisan tension in Congress.

Following similar decisions by big banks, the Consumer Bankers Association and Mortgage Bankers Association said they will halt all political contributions to elected officials as some lawmakers face harsh criticism for comments that incited the storming of the U.S. Capitol.

In the waning days of the Trump administration, the agency issued a new legal theory of its power to let national banks evade state consumer protection laws. But some state attorneys general and consumer groups charge the federal regulator is attempting to sidestep restrictions imposed by Dodd-Frank.

Three nonprofits look to create or preserve 10,000 units, vowing to fight off firms like Blackstone and Colony Capital, which bought up foreclosed homes after Great Recession.