Politics

Sen. Tim Scott, R-S.C., the chairman of the Senate Banking Committee, said they would try to pass crypto and stablecoin bills in the first 100 days of the Trump administration.

Tom Krause, the chief executive of Cloud Software Group, and Marko Elez, an engineer who has worked for SpaceX and social-media platform X, have offices in the Treasury Department, according to sources.

The senators introduced legislation that would limit the interest rate card issuers are able to charge holders for the next five years.

The president's rough-and-tumble trade negotiations have throttled financial markets, causing investors to flock to the safety of dollars and Treasuries. But some economists say this style of policymaking could have hurt the U.S.'s safe haven status in the long run.

The House Financial Services Committee released a draft resolution under the Congressional Review Act to cancel the Consumer Financial Protections Bureau's rule limiting bank overdrafts to $5 in most cases.

Donald Trump's second administration is widely expected to be far less skeptical of bank mergers than the Biden administration has been, but industry experts say that political opposition to big bank mergers and business considerations will still be roadblocks.

A bill offered by Rep. Roger Williams, R-Texas, would repeal Dodd-Frank Section 1071 and eliminate any data-collection requirements for the Consumer Financial Protection Bureau.

A former senior advisor at the Federal Reserve Board was arrested and charged with economic espionage for conspiring to steal trade secrets and sell them to China for $450,000.

The president directed Treasury Secretary Scott Bessent and Howard Lutnick, the nominee for Commerce secretary, to create the fund, following through on an idea Trump floated during his campaign.

Treasury Secretary Scott Bessent, who was named to be acting director of the Consumer Financial Protection Bureau, has told the agency's staff to put a halt to all rules, enforcement actions and hiring.