Politics

In a post on his social media platform Thursday morning, the president criticized the Federal Reserve's reluctance to lower rates and said the chair's departure "could not come soon enough."

An internal Consumer Financial Protection Bureau memo says the agency will shift enforcement and supervisory work to the states and cease oversight of all nonbanks and Big Tech firms.

The Consumer Financial Protection Bureau and Townstone Financial, a Chicago mortgage lender that it sued in 2020, jointly asked a federal court to vacate a settlement, saying the case should never have been filed.

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.

In internal shakeup, the Office of the Comptroller of the Currency will unify supervision divisions, revive the Chief National Bank Examiner office, and elevate IT oversight as part of a broader streamlining push.

Federal Reserve Chair Jerome Powell warned that actions that undermine the apparent stability of the U.S. economy could have lasting effects on its status as a global safe haven.

Senators want to investigate the rapid changes to Fannie Mae and Freddie Mac's boards of directors, and seek more clarity about reported layoffs.

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.

U.S. District Judge Tanya Chutkan said the Environmental Protection Agency could not suspend the previously awarded funds. The case put Citigroup in the crossfire of a legal battle between climate groups and the Trump administration.

President Trump's tariff regime and resulting price shocks may put additional pressure on small banks, requiring an already undermanned Federal Deposit Insurance Corp. to turn to assisted M&A deals to resolve failed banks, accelerating consolidation in the industry.