Trump administration

A stop-work order from the Consumer Financial Protection Bureau's newly appointed acting director Russell Vought has created uncertainty about the future of consumer-oriented enforcement activity.

Speaking to reporters from the Oval Office, the president was asked if he wanted to eliminate the bureau. "I would say, yeah," Trump replied. "Because we're trying to get rid of waste, fraud and abuse."

A survey of senior bank officers at community banks by fintech firm IntraFi found bankers nearly evenly divided on the idea of merging federal bank regulators, while an overwhelming 93% support maintaining agency independence.

A rally outside the Consumer Financial Protection Bureau headquarters in Washington Monday afternoon boasted 17 lawmakers and roughly 600 attendees, organizers said, who were decrying Trump administration efforts to effectively shutter the bureau.

Acting Consumer Financial Protection Bureau Director Russell Vought ordered bureau employees to "stand down" and perform no work, effective immediately.

Elon Musk will dispatch a team to gain read-only access to the government's central accounting system.

Courts are litigating the question of whether Elon Musk has the authority to assign DOGE employees to positions that grant them access to sensitive data.

President Donald Trump has recruited Fiserv CEO Frank Bisignano and PayPal co-founder Elon Musk to streamline parts of the government. Their styles and experience could not be more different.

Russell Vought, the Consumer Financial Protection Bureau's new acting director, ordered staff to stop all work and closed the agency's headquarters for a week.

A group of 19 state attorneys general have sued the Trump administration, alleging the Department of Government Efficiency's move is illegal. The injunction is pending a hearing Feb. 14.

Newly-confirmed Office of Management and Budget Director Russell Vought, a key architect of Project 2025, has been charged with overseeing an agency Republicans have vowed to eliminate, according to a Wall Street Journal report.

Hood, who chaired the National Credit Union Administration from 2019 until 2021, has been selected by Treasury Secretary Scott Bessent to serve as acting comptroller of the currency. Hood replaces acting OCC head Michael Hsu, who has led the agency since 2021.

President Donald Trump huddled with Republican lawmakers on Thursday and discussed ending some of the biggest tax provisions that impact Wall Street.

Luke Pettit could have an expanded role compared to previous assistant secretaries for financial institutions as President Donald Trump eyes Treasury lead for deregulatory agenda.

Secretary of State Marco Rubio said the U.S. will ban certain Cuban payments, mirroring Trump's pressure on cross-border payments during his first administration.

Trump's executive order to create a U.S. sovereign wealth fund raises important questions — as yet unanswered — around funding, governance, political interference and the purpose that such a fund would serve.

Sen. Tim Scott, R-S.C., the chairman of the Senate Banking Committee, said they would try to pass crypto and stablecoin bills in the first 100 days of the Trump administration.

Tom Krause, the chief executive of Cloud Software Group, and Marko Elez, an engineer who has worked for SpaceX and social-media platform X, have offices in the Treasury Department, according to sources.

The president directed Treasury Secretary Scott Bessent and Howard Lutnick, the nominee for Commerce secretary, to create the fund, following through on an idea Trump floated during his campaign.

Treasury Secretary Scott Bessent, who was named to be acting director of the Consumer Financial Protection Bureau, has told the agency's staff to put a halt to all rules, enforcement actions and hiring.