Trump administration

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.

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.