Politics

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.

Federal Reserve Gov. Adriana Kugler said in a speech in Dublin that trade barriers could soon affect prices and slow down growth while increasing uncertainty in 2025.

The Consumer Financial Protection Bureau issued a policy directive rescinding scores of standing guidance documents, interpretive rules and advisory opinions in a bid to reduce compliance costs.

New regulations implementing the Community Reinvestment Act are likely to run into trouble unless they take into account the priorities of the Trump administration and its efforts to streamline the federal government.

Bank advocates and lawmakers have endorsed removing management considerations from the key supervisory ranking, arguing that it is too prone to subjectivity. But some policy experts say doing so could leave certain risks unchecked.

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.