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 Conference of State Bank Supervisors says the OCC's 2011 preemption rules are out of step with Supreme Court rulings and unfairly disadvantage the state banking system.

Ending the separation of banking and commerce would open the door to dangerous concentrations of power and influence, and would threaten financial and economic stability as well as access to credit for consumers and Main Street businesses.

Federal Reserve Gov. Michael Barr said global supply chain disruptions and inflation caused by tariffs could weigh heaviest on small businesses, especially those with little access to credit.

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.

Federal Reserve Chair Jerome Powell declined to say whether he would depart the central bank after his chairmanship ends next year, as is typical with Fed chairs who are not reappointed. He also pushed back on criticism from one potential replacement.

The Treasury secretary tells the House Financial Services Committee that he is vetting candidates to fill the role and says acting Chair Travis Hill has been effective.

Federal Reserve Chair Jerome Powell will likely be asked about the economic fallout from President Trump's tariff rollout during his press conference following the Federal Open Market Committee meeting.

The last time someone decided to gut a major financial services regulatory agency, we got the Great Recession. DOGE cuts to the Consumer Financial Protection Bureau could trigger similar pain.