Trump administration

Acting Consumer Financial Protection Bureau Director Russell Vought said all diversity, equity, inclusion and accessibility policies "will cease immediately," adding that employees may be investigated if they go against the order.

The court filing contradicts Fed Chair Jerome Powell's statement to Congress in February that the central bank has had "no contact" with DOGE.

The president is likely to nominate Federal Reserve Gov. Michelle Bowman to be the central bank's next vice chair for supervision, a post vacated by Michael Barr.

President Donald Trump's tariff policies will strain some banks' business customers, as their supply chains will have to be reconfigured. But uncertainty is the real headwind.

A federal judge said she is inclined to issue a preliminary injunction to stop the Trump administration dismantling the Consumer Financial Protection Bureau.

In a packed courtroom, a federal judge parsed whether the Trump administration's aggressive actions to rein in the Consumer Financial Protection Bureau are part of a "normal" transition of power or would impede its statutorily required functions.

Among the resignations are Mark McArdle, who was instrumental in creating the Qualified Mortgage rule, and Operations Chief of Supervision David Bleicken. It is unclear if the Consumer Financial Protection Bureau will hire anyone to succeed them.

The Trump administration's attack on diversity, equity and inclusion programs raises the question: Will big banks continue their support of minority depository institutions?

The Trump administration intended to gut the Consumer Financial Protection Bureau through a mass workforce reduction, which could be a smoking gun in a court battle with the bureau's union.

The president exempted Mexican and Canadian goods covered by the North American trade agreement from his 25% tariffs, offering reprieves to America's two largest trading partners.

The nomination of Jonathan McKernan to lead the Consumer Financial Protection Bureau moves to the full Senate, where he's likely to be confirmed along party lines.

Commerce Secretary Howard Lutnick said the president is likely to defer his 25% tariffs on Canada and Mexico for all goods and services covered by the North American trade agreement.

Ahead of a court hearing, the top lawyer at the Consumer Financial Protection Bureau says he ordered supervisory staff to get back to work. But examiners and supervisors are disputing that work is being done, noting that travel credit cards have been cut off.

As steep tariffs on Canadian goods took effect this week, banks on both sides of the border expressed concern about the economic fallout and the uncertainty their customers face.

Many layoffs so far have been in the Small Business/Self-Employed Division, but the Large Business & International Division has also been affected.

Senate GOP leaders also aim to make the TCJA tax cuts permanent, which would raise the costs of tax reform unless a new scoring method is adopted.

President Donald Trump said he inherited an "economic catastrophe" from his predecessor in a joint address to Congress, though markets fell Tuesday on fears of a budding trade war with Canada and Mexico.

At a court hearing on Monday, lawyers for the Trump administration said statutorily required work is being done by the Consumer Financial Protection Bureau, while the union claimed the government is trying to shut the agency down.

Unclear and inconsistent signals from Washington about tariffs, tax policy and the capacity of federal agencies are already spurring more conservative consumer-spending habits and could drag down economic growth, economists say.

Thirty members of the Senate Banking and House Financial Services committees signed a letter petitioning the administration to name a new vice chair for supervision — and quickly.