Claire Williams

President Donald Trump has signed two Congressional Review Act resolutions nullifying the Consumer Financial Protection Bureau's rule capping many overdraft fees and subjecting large data brokers to regulation.

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.

The Congressional Review Act resolution to overturn the Office of the Comptroller of the Currency's rules on bank mergers passed 52-47.

The vote to invoke cloture on the Senate's stablecoin bill failed 48-49, delaying the final passage of the crypto legislation.

House Financial Services Committee ranking member Maxine Waters, D-Calif., blocked a planned joint hearing on a crypto market structure bill amid concerns about the Trump family's conflicts of interest in cryptocurrency.

In a party-line vote, the committee sent the nomination of Michelle Bowman as the Federal Reserve's vice chair of supervision to the full Senate.

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.

The bureau dropped the case against the subprime card lender with prejudice, following a number of similar actions taken under the Trump administration.

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.

The firing of National Credit Union Administration board members further erodes the political independence of bank regulators, experts say, in a way that could trickle up to the Federal Reserve.

President Donald Trump has ousted Todd Harper and Tanya Otsuka, Democratic board members of the National Credit Union Administration, before the end of their Senate-confirmed terms in the latest example of bipartisan regulator boards being undermined in Washington.

A bill being introduced by Sen. Catherine Cortez Masto, D-Nev., would compel the Federal Home Loan Bank System to contribute 30%, or a minimum of $200 million, of each bank's net earnings into affordable housing or other community development programs.

Federal Reserve Gov. Michelle Bowman, who has been nominated to be the central bank's top regulator, sidestepped direct questions about the Trump administration's incursion into the Fed's regulatory independence.

Federal Reserve Gov. Michelle Bowman will go before the Senate Banking Committee Thursday for her confirmation hearing to be the next vice chair for supervision at the central bank.

House Financial Services Committee member Andy Barr, R-Ky., will introduce a Congressional Review Act resolution to nullify the Office of the Comptroller of the Currency's merger rule that went into effect in January.

Congressional Review Act resolutions to nullify the Consumer Financial Protection Bureau's overdraft and larger participant rules now go to President Trump for his signature.