Trump administration

House Financial Services Committee ranking member Maxine Waters, D-Calif., led a group of Democrats in challenging Treasury Secretary Scott Bessent over the current state of the Community Development Financial Institutions Fund.

The National Credit Union Administration insists it can still function with one board member, but legal experts and industry groups say any substantive regulatory actions could face serious challenges.

Federal Reserve officials have all but conceded their claims to bank oversight independence while holding fast to monetary policy independence. But whether that line will hold is an open question.

A federal judge issued an order blocking the Trump administration from firing hundreds of Consumer Financial Protection Bureau employees, saying agency leadership had 'thumbed their noses' at the court's earlier injunction.

A federal judge will determine if the leadership of the Consumer Financial Protection Bureau should be held in contempt after firing 90% of the bureau's staff and dismantling all offices.

CEO Stephen Squeri said current strategy will continue, adding it would look to adjust expenses in areas such as marketing if there's an economic downturn.

In a post on his social media platform Thursday morning, the president criticized the Federal Reserve's reluctance to lower rates and said the chair's departure "could not come soon enough."

The Consumer Financial Protection Bureau and Townstone Financial, a Chicago mortgage lender that it sued in 2020, jointly asked a federal court to vacate a settlement, saying the case should never have been filed.

President Donald Trump has ousted Todd Harper and Tanya Otsuka, Democratic board members of the National Credit Union Administration, before the end of their Senate-confirmed terms in the latest example of bipartisan regulator boards being undermined in Washington.

Experts say transaction growth is OK now, but the next year will be fraught with risk.