Trump administration

The number of shareholder proposals appearing in banks' proxy statements is down significantly this year, due to Trump-era regulatory changes and new concerns about political blowback.

The Consumer Financial Protection Bureau said it is "optimistic" that a lawsuit challenging the $8 credit card late fee rule can be resolved. The late fee rule is expected to be rescinded by the Trump administration.

Officials in the Trump administration have floated the idea of changing how the government measures economic growth. Economists say the shift would create new expenses for banks.

The Justice Department has asked the high court to intervene and halt reinstatements of federal employees who were fired by the Office of Personnel Management.

Treasury Secretary Scott Bessent and Trump's National Economic Council director, Kevin Hassett, are set to meet Tuesday with House and Senate Republican leaders and their top tax writers to try to resolve differences over the scale of cuts and ways of paying for them.

The largest U.S. bank will now call the initiative Diversity, Opportunity & Inclusion, or DOI, Chief Operating Officer Jenn Piepzak said in a memo to staff Friday.

The Consumer Financial Protection Bureau has rehired more than 100 fire employees, but the union claims dozens of employees have not been reinstated in violation of a federal court order.

Gutting U.S. bank regulatory agencies risks undermining public faith in the banking system and driving community bank customers into the arms of a few "too big to fail" institutions.

The firings are the latest by the president to challenge a 90-year legal precedent that shields members of independent agencies, part of his administration's move to gain greater influence across the government.

The Treasury secretary pointed to figures from credit cards and banks as "very good underlying data."

President Donald Trump's executive order severely limiting the Treasury's Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.

It's been rare for a fintech to win regulatory approval to become a bank, with none receiving approval under President Joe Biden and only a few successfully obtaining charters before that.

President Trump's selection of Federal Reserve Gov. Michelle Bowman as the next vice chair for supervision comes as banking groups and their allies in Congress asked the administration to fill the position quickly. Bowman was the preferred choice for many in the industry.

Past efforts to restructure bank supervision have been derailed by politics and agency turf wars. It remains to be seen whether the Trump administration is willing to spend the political capital necessary to push reform through.

An executive order issued late Friday cut the Treasury Department Community Development Financial Institution Fund and other federal programs to their legal minimum.

A Maryland judge temporarily halted mass layoffs of probationary employees at multiple agencies, citing legal violations and harm to states' ability to respond to unemployment needs.

A federal judge in Maryland ruled against the City of Baltimore's attempt to block cuts to Consumer Financial Protection Bureau program funding on procedural grounds.

In 2023, the Consumer Financial Protection Bureau cited Citibank for discriminating against Armenian Americans. The recent turmoil at the agency raises questions about whether the bureau will be able to carry out similar actions in the future.

Three Democratic senators joined Republican colleagues to confirm the businessman, who previously voiced his support for easing government regulations.

New guidance from the Office of Personnel Management states that unions' collective bargaining agreements cannot interfere with mass layoffs carried out by federal agencies.