Politics

A bipartisan alliance backing stablecoin legislation shattered in the U.S. Senate.

President Donald Trump's proposed budget would nix funding for Community Development Financial Institutions in minority-heavy areas while expanding it for rural areas.

The administration is pitching a $26.7 billion reduction to the regulator's funding for rental assistance, public housing and elderly and disability housing.

The Bureau of Labor Statistics reported that the economy grew 177,000 jobs in April, beating expectations and giving the Federal Reserve little reason to adjust interest rates in the near term.

With vast amounts of capital locked in privately held companies, both employees of those companies and average investors would benefit from a loosening of the rules restricting private investment.

The unemployment rate held steady at 4.2%, suggesting uncertainty over President Donald Trump's trade policy has yet to materially impact hiring plans.

After building capital for years in anticipation of higher requirements, banks now face a lighter regulatory outlook under President Trump. But experts don't expect capital levels to come down quickly.

Executives at the San Antonio bank say their business customers should be able to pass along higher costs from tariffs to consumers. Still, the bank acknowledged the risk of a recession.

The Small Business Administration is backing new legislation that would double the size limit on its manufacturing loans. Supporters say the bill has support on both sides of the aisle in Washington.

Ex-National Credit Union Administration board member Todd Harper outlined legal, economic and political dangers of recent firings of independent regulators.

In a recent executive order, President Trump tried to wipe out a legal concept used to root out discrimination. But banks, worried about what will happen the next time a Democrat is in the White House, may be reluctant to change their policies.

A new survey conducted by IntraFi found that nearly three-quarters of bank executives say a recession is here or imminent, and tariffs now rank among their top three economic concerns.

A budget bill passed by the House Financial Services Committee would eliminate the Public Company Accounting Oversight Board and cap the Consumer Financial Protection Bureau's budget at roughly $249 million.

The Federal Reserve's preferred inflation reading fell in March, but the positive reading came before new trade policies hit the economy.

Inflation-adjusted gross domestic product decreased an annualized 0.3% in the first quarter, well below average growth of about 3% in the prior two years, according to the government's initial estimate.

The administration's major moves include weakening the Consumer Financial Protection Bureau and rolling back numerous Biden-era regulations.

At a House subcommittee hearing, Republicans proposed "tailoring" regulations for community banks while Democrats railed against Trump's tariffs and cuts to the Consumer Financial Protection Bureau.

Senate Banking Committee ranking member Elizabeth Warren, D-Mass., and House Financial Services Committee ranking member Maxine Waters, D-Calif., urged the National Credit Union Administration's Inspector general to look into President Trump's removal of two board members.

Rapid deregulation, tariffs and a campaign to dismantle the Consumer Financial Protection Bureau have defined the early days of President Donald Trump's second term for bankers.

Sens. Elizabeth Warren, D-Mass., and Ron Wyden, D-Ore., will force the vote Wednesday on a bipartisan resolution aimed at terminating the national emergency declaration used by Donald Trump to impose sweeping tariffs.