Trump administration

Treasury Secretary Scott Bessent said in an interview on CNBC Thursday that he and Office of Management and Budget Director Russell Vought have been tasked with developing a fiscal plan to reduce government spending.

President Trump lobbied again for Congress to pass the CLARITY crypto market structure bill, but paths toward this Congress doing so are treacherous with few legislative days left.

The president has initiated a for-cause process to remove the Federal Reserve Board governor from office, something only one president has successfully done before. But that century-old precedent may not offer Trump much useful guidance in his quest.

Stephen Wheeler, a prominent Consumer Financial Protection Bureau union organizer, was placed on administrative leave as the agency investigates allegations it has not publicly disclosed.

President Donald Trump's administration has reportedly sent a letter to Federal Reserve Gov. Lisa Cook detailing his reasons for finding cause to remove her from office after the Supreme Court ruled in her favor earlier this summer.

The Trump administration is currently reviewing a soon-to-be-released proposal on consumer financial data rights.

Securities and Exchange Commission Chair Paul Atkins' effort to rein in the agency's bureaucrats is a welcome move. However, hundreds of firms damaged by unconstitutional prosecutions deserve public exoneration.

Mark Paoletta, the Consumer Financial Protection Bureau's chief legal officer, has taken over as the agency's acting director. Russell Vought's term ended Aug. 1.

The bank, which denies discriminating against President Trump's business, said its internal review was triggered by "transaction patterns" that "are among the types of activity flagged by federal banking guidance."

The GOP senator's push comes as UBS continues withholding records tied to predecessor Credit Suisse's World War II-era dealings.

Brian Johnson, President Trump's nominee to lead the Consumer Financial Protection Bureau, navigated a somewhat contentious Senate Banking Committee hearing dominated by Democratic opposition but without giving away specific plans he has for the agency.

The Senate Banking Committee will hold a hearing Thursday on whether to confirm Brian Johnson, a former Capital One executive and deputy director of the Consumer Financial Protection Bureau in Trump's first term to lead the agency permanently.

New tariffs set for Wednesday cite the country's subsidized Pix network, which supports a large swath of transactions and has raised anti-competition objections from Visa and Mastercard.

The regional bank faced months of pressure to end its relationship with CoreCivic and The Geo Group, two of the country's largest private prison operators. On Friday, it said it would "exit the credit facilities" it has in place for those companies, attributing the decision to business factors, not pressure from activists.

State Street executives said Thursday that one of its investment funds was selected as the default investment option for "Trump accounts."

Russell Vought, the acting director of the Consumer Financial Protection Bureau, will testify Wednesday before the Housing Financial Services Committee, three weeks before his tenure as acting director ends.

A detailed look at bank merger-and-acquisition activity between January and June reveals a significant slowdown in announcements and a decline in deal value and pricing. The deceleration coincided with the start of U.S.-Israeli attacks on Iran.

Industry experts say regional banks have roughly a two-year window in which to merge, before they risk the clock expiring on the Trump administration's M&A-friendly policies.

The private student loan market figures to benefit from Republican-led changes to the much larger federal program. But other consumer lenders could face a fallout as more Americans are forced to reconsider which debt payments to prioritize.

Senate Banking Committee ranking member Elizabeth Warren, D-Mass., said the National Credit Union Administration's efforts to roll back 31 rules without a board quorum could jeopardize the credit union system's stability and legitimacy.