Politics

While Sen. Elizabeth Warren, D-Mass., is continuing to try and save the agency she helped create, Sen. Adam Schiff, D-Calif., who benefited from crypto spending in his primary race, is a new ally.

The executive appointments at the Consumer Financial Protection Bureau top the list of noteworthy moves by President Donald Trump to hit banks in recent days.

The Trump administration's orders to stop supervisory exams at the Consumer Financial Protection Bureau are seen as a potential conflict of interest for Elon Musk, whose company X would have been overseen by the bureau when it launches its payments wallet.

President Donald Trump's new executive order could have dramatic implications for bank regulation by subjecting agencies to White House political control.

The $35 billion transaction has faced pushback from critics on antitrust grounds since it was announced a year ago. The vote today puts the deal one step closer to closing.

The Federal Reserve's top regulator said banks drop customers they see as too risky, and anti-money-laundering actions are "just straight-up-the-middle risk management and banking."

Federal Reserve Gov. Michelle Bowman — who is viewed as a leading contender to be the next vice chair for supervision at the central bank — said changes to the post-financial crisis framework should be a focal point of the Fed's regulatory policy review.

An overhaul of the bank regulatory system is past due, but the urge to start tearing up the rule book must be resisted in favor of precision and the thoughtful application of some basic principles.

The Trump administration has installed Jeffrey Clark at the Consumer Financial Protection Bureau. Clark, a former environmental lawyer in the Justice Department in the first Trump administration, was indicted as part of the president's efforts to overturn the 2020 election.

U.S. District Judge Amy Berman Jackson agreed to temporarily block the Trump administration from firing more CPFB employees and said the White House could not delete or destroy any of the bureau's data or databases.