Trump administration

Reports that the White House is considering naming Treasury Secretary Scott Bessent as the next chair of the Federal Reserve have raised eyebrows and speculation in Washington — especially in an administration with a penchant for assigning cabinet secretaries multiple jobs.

Royal Bank of Canada, BMO Financial and others increased allocations to cover the possibility of souring loans as trade pressures shake international markets.

The Treasury secretary is being touted to lead the central bank after President Donald Trump said he would name Jerome Powell's successor "very soon." Powell's term as Fed chair ends in May 2026.

Cara Petersen, the Consumer Financial Protection Bureau's top enforcement official, said the Trump administration has "no intention to enforce the law in any meaningful way."

A new executive order reverses digital ID initiatives, fraud alerts and federal data-sharing plans from which banks stood to benefit.

Trump's bank regulatory team is advancing all types of wish-list reforms, some more radical than others. When, not if, the political winds change, banks should be ready for a sharp reversal, what could become a wave of "revenge regulations."

In her first speech since being confirmed as the Federal Reserve's vice chair for supervision, Michelle Bowman outlined a set of ambitious pursuits that would overhaul bank regulation and examination.

Elon Musk's decision to step away from the Department of Government Efficiency has bankers in wait-and-see mode for what policy plays are next.

The Senate voted to confirm Federal Reserve Gov. Michelle Bowman's nomination to be the vice chair for supervision at the central bank in a 48-46 party-line vote.

The item calls for increasing tax rates for individuals and companies from countries whose tax policies the U.S. deems "discriminatory." This includes raising tax rates on passive income, such as interest and dividends, earned by investors who are potentially sitting on trillions in American assets.