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The stopgap funding bill paves the way for Republican lawmakers to pivot to signature border and tax bills they seek to pass in the coming months.

Dodig, who has led the Canadian bank since 2014, will be succeeded by Harry Culham, CIBC's head of capital markets.

The court filing contradicts Fed Chair Jerome Powell's statement to Congress in February that the central bank has had "no contact" with DOGE.

President Donald Trump's company accused it of illegally "de-banking" him for political reasons by abruptly canceling hundreds of accounts for his real estate business after his first term ended in 2021.

Both stockpiles will be initially funded with assets owned by the Department of Treasury that were seized in criminal or other legal proceedings.

Visa and Mastercard have long been in legal battles over payment fees, with out-of-court agreements proving elusive.

Notably, Trump described the January decision to hold rates steady – which looks set to be the Fed's stance for some time — as "the right thing to do."

Canada's largest bank is bracing for the impact of a threatened U.S. 25% tariff on imports from north of the border. But the cloudy 2025 outlook was offset by strong results last quarter.

The Department of Government Efficiency says it has saved $55 billion in federal spending so far, but its website only accounts for $16.6 billion of that.

While executives this week signaled they could accept policies that put pressure on the economy, analysts said the lighter regulatory touch is unlikely to offset Trump's tariff regime.