Claire Williams

The Senate voted to confirm Federal Reserve Gov. Michelle Bowman's nomination to be the vice chair for supervision at the central bank in a 48-46 party-line vote.

House lawmakers discussed the recently introduced market structure bill, with Democrats expressing concerns that the bill could enable banks to evade securities laws.

Elon Musk, formerly head of the Department of Government Efficiency, said he will officially leave the federal government after a short but tumultuous tenure. DOGE's actions at the Consumer Financial Protection Bureau are being reviewed in federal court.

In a dramatic move, conservative hardliners blocked President Donald Trump's tax and spending bill, which would have included many measures favored by banks.

Banks scored well in the tax bill out of Ways and Means this week, with wins on S Corps and rural lending, but have so far lost out on credit union taxes and additional burdens on payments competitors.

Senate Banking Committee ranking member Elizabeth Warren is pushing the Department of Justice to use its power to halt the deal, already approved by bank regulators.

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.