Trump administration

Legendary former central banker Paul Volcker praised Jerome Powell as the current Federal Reserve chairman faces fire from President Donald Trump for raising interest rates.

President Trump said he won't fire Federal Reserve Chairman Jerome Powell but blamed an "out of control" U.S. central bank for the worst stock market sell-off since February.

Senate Democrats on Wednesday called for acting CFPB Director Mick Mulvaney to reveal the vetting process that led to the hiring of a political appointee whose past incendiary writings have caused an uproar at the agency.

The senior Democratic lawmaker said the CFPB chief and the Trump administration "are doing everything in their power to roll back consumer protections."

The head of the National Treasury Employees Union said the appointment of Eric Blankenstein to a senior role “reflects poorly on CFPB management.”

Eric Blankenstein, a political appointee overseeing fair-lending policy at the agency, said in an email to staff that his blog posts from 14 years ago that used a racial epithet “reflected poor judgment.”

What started as a single senior official at the CFPB voicing concerns about blog posts written 14 years ago by Eric Blankenstein, a top agency political appointee, is rapidly becoming a rising chorus of discontent.

At least six Trump administration picks to fill financial posts are still pending, but the bitterly partisan divide over Judge Brett Kavanaugh has taken up most of the energy in Congress.

Another regulator has already gone out on its own with an advance notice of proposed rulemaking. But, Powell said, "It’s a process and we’re very much interested in pushing forward.”

As the House Financial Services Committee prepares to hold a hearing Thursday on oversight of the Federal Housing Finance Agency, the exact focus of the hearing remains somewhat in flux.

The Danish bank updates amount laundered; Goldman near deal for its Simon app.

Liang is currently a senior fellow at the Brookings Institution in Washington and previously led a Fed board division in charge of financial stability policy and research.

The tightening of Senate races in Republican strongholds has raised the prospects of Democrats having even more influence on regulatory appointments and the legislative agenda.

The agency’s director has been under pressure to quit as he is investigated for sexual harassment allegations, but an agency spokesperson says he still plans to testify at a housing finance hearing slated for later this month.

Goldman’s next CEO names a new president and replaces the CFO; insurance giant shares remain at a 25% discount to book value.

The payments technology that powers international trade is crucially important because it helps streamline the processes and trim the costs of conducting business overseas, according to Darren Hutchinson, head of commercial in the Americas for WorldFirst.

Consumer advocates and academics recently removed from the Consumer Advisory Board said they were "disappointed" that the board will be reconstituted with fewer members.

It’s been off the radar for a couple of years, but Washington may soon be debating the separation between commercial and investment banking once again.

The agency announced a new lineup for the Consumer Advisory Board after having fired its previous members and those of two other panels.

It’s been off the radar for a couple of years, but Washington may soon be debating the separation between commercial and investment banking once again.