Trump administration

If Cain is chosen for the Federal Reserve Board, it would be starkly out of step with the administration’s other nominations and may reveal a drastic change in the president’s attitude toward the central bank.

The lawmakers said the lack of someone with a state supervisory background among the agency's three inside board seats violates federal law.

Herman Cain, the former pizza company executive who ran for the Republican presidential nomination in 2012, is being considered by President Trump for a seat on the Federal Reserve Board.

The Federal Housing Finance Agency has appointed a special assistant to President Trump and former Trump campaign official as chief of staff of the agency.

A White House spokeswoman said the administration wants to work with Congress on a housing finance reform plan, providing evidence that changes might not be imminent.

The hiring of a former GOP congressional aide suggests the bureau will continue to rely on political appointees in senior positions.

The acting head of the Federal Housing Finance Agency has promised substantial changes for Fannie Mae and Freddie Mac, but the exact mechanics and timeline of an administration plan are still a mystery.

Chris D’Angelo, the CFPB's associate director of supervision, enforcement and fair lending, is leaving the bureau after eight years to become a chief deputy attorney general in New York state.

Fannie Mae and Freddie Mac shares soared Friday amid fresh reports that the Trump administration is working on proposal that would recommend freeing the mortgage-finance giants from government control.

In letters to the Treasury secretary and CEOs of the largest banks, the Massachusetts Democrat questioned why Mnuchin was trying to quell liquidity fears that had not previously been mentioned by regulators.