Biden Administration

The proposal marks a concession for Republicans, but it's designed more to start negotiations with the White House rather than pass the Democratic-controlled Senate.

Treasury assistant secretary for economic policy Ben Harris, one of Joe Biden's top economic aides, has left the administration after years of advising the president.

The departure of the Federal Reserve's No. 2 could have a profound impact on who steers its policymaking efforts on several key issues, including revamping the Community Reinvestment Act and FedNow.

The Federal Reserve vice chair's departure creates an opening in the Board of Governors' second-in-command position.

The president is responding to critics who say many of Democrats' key policies do not address core expenses for Americans.

President Biden called on the SEC, CFPB and other agencies to vigorously use their enforcement powers to combat consumer scams and financial crimes involving cryptocurrencies; issue rules that address emerging risks tied to digital assets; share data on consumer complaints; and promote a modernized payment system.

The report from an office in the White House is the first public report issued pursuant to an executive order President Biden issued in March.

The U.S. Department of Education agreed to erase nearly $6 billion in student loans for borrowers who filed a class action lawsuit against the government after attending for-profit colleges that were found to have misled students.

The Biden administration’s continued extension of a student loan payment moratorium and the uncertain future of a debt forgiveness plan are causing confusion and uncertainty.

President Biden is considering forgiving $10,000 in student loans per borrower, but eliminating interest on the debt could be a more effective way to reduce the financial burden, according to experts.