Politics

Acting Consumer Financial Protection Bureau Director Russell Vought ordered bureau employees to "stand down" and perform no work, effective immediately.

After nearly 10 years of banking my business, BofA debanked it because of overzealous anti-money-laundering enforcement. The Trump administration must bring back common sense to Bank Secrecy Act compliance.

Leading Republican lawmakers released two similar stablecoin bills last week, legislation that the White House wants finished quickly. Here are four issues banks need to watch as the bills move forward.

Newly-confirmed Office of Management and Budget Director Russell Vought, a key architect of Project 2025, has been charged with overseeing an agency Republicans have vowed to eliminate, according to a Wall Street Journal report.

Hood, who chaired the National Credit Union Administration from 2019 until 2021, has been selected by Treasury Secretary Scott Bessent to serve as acting comptroller of the currency. Hood replaces acting OCC head Michael Hsu, who has led the agency since 2021.

By repealing the Biden administration's artificial intelligence safety guidelines, President Trump has created a chance for the banking industry to demonstrate that it can be a leader in protecting consumers.

Employers added fewer workers than anticipated last month, but upward revisions to previous estimates drove down the jobless rate. The report gives no clear directive to the Federal Reserve, which put rate cuts on hold last month.

President Donald Trump huddled with Republican lawmakers on Thursday and discussed ending some of the biggest tax provisions that impact Wall Street.

The Federal Reserve is no longer exploring the idea of creating a new liability for interbank settlements. Instead, it is looking for ways to improve existing systems.

The time is ripe for Congress and the president to shrink the Federal Deposit Insurance Corp.'s board of directors back down to its original three members, removing the Consumer Financial Protection Bureau's seat.