Trump administration

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.