Trump administration

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.

The agency is seeking input on how to better open up industries up to new entrants. Some see this opening the door to more competition for banks.

In a settlement with bank trade groups that sued the Consumer Financial Protection Bureau, the Trump administration has agreed to drop the credit card late fee rule with prejudice.

Acting Consumer Financial Protection Bureau Director Russell Vought also directed that future guidance not use the words "shall," "must," "required" or "requirement" to direct parties outside the federal government, except when restating clear legal mandates. 

A three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit narrowed a lower court's injunction barring the termination of Consumer Financial Protection Bureau employees but maintained restrictions on mass firings.

Two recent executive orders could speed up the administration's push to rollback regulations, but they also change the notice-and-comment rulemaking process.

The chief executives at four of the nation's largest banks weighed in on what evolving trade policies mean for their businesses and the U.S. economy. "I think you have to be a little bit pessimistic here," said Bank of New York Mellon CEO Robin Vince.

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A recent letter addressed to the FHFA fueled a consumer advocacy group to look at salaries, which have been criticized as not aligned to the system's purpose.

Federal Reserve Gov. Michelle Bowman, who has been nominated to be the central bank's top regulator, sidestepped direct questions about the Trump administration's incursion into the Fed's regulatory independence.

Federal Reserve Gov. Michelle Bowman will go before the Senate Banking Committee Thursday for her confirmation hearing to be the next vice chair for supervision at the central bank.

Investors are finding a haven from stock market and crypto volatility, but an economic downturn could slow overall spending, imperiling stablecoins in retail and corporate transactions.

President Trump placed a 90-day pause on most of his sweeping tariff package, but for banks and other financial market participants, the threat of volatility remains.

A federal appeals court panel seemed open to accommodating the Trump administration by putting some conditions on a preliminary injunction that has blocked it from reductions in force at the Consumer Financial Protection Bureau.

The tariff regime unveiled last week by President Donald Trump has injected a significant dose of uncertainty into the banking industry and unleashed the specter of an economic slowdown.

Municipal AAA yield curves were cut up to another 42 basis points, depending on the curve, as of noon, pushing yields to multi-year highs and long-end muni to UST ratios above 100%. Muni yields have risen up to nearly 100 basis points in spots since the bond market rout began.

The rebate, which would be geared toward boosting U.S. manufacturers, would be issued at the end of the year to offset the effects of retaliatory tariffs.

Federal Reserve officials want to see how exactly new trade policies impact the U.S. economy before adjusting interest rates. Markets and monetarists have different ideas about what that might look like.