Trump administration

Cordray picking his own interim successor sets off a firestorm; co-head of global banking leaves the U.K. bank after only 18 months.

President Trump has tapped Office of Management and Budget Director Mick Mulvaney as interim head of the CFPB. He has taken tough stances on the CFPB, its payday lending rule, housing finance reform and other issues pending before the agency.

CFPB Deputy Director Leandra English filed a lawsuit late Sunday against the Trump administration challenging OMB Director Mick Mulvaney's appointment. The bureau's general counsel has sided with President Trump, however.

CFPB Director Richard Cordray abruptly announced Friday that he would leave at the end of the day, giving the reins of the agency to a new deputy director.

Federal Reserve Chair Janet Yellen announced Monday that she intends to step down from the Board of Governors after her successor is sworn in when her term expires early next year, ending any speculation that she may stay on.

It’s a seat the Trump administration has long wanted vacated, and now it gets a chance to fill it — and change the direction of an agency that’s been a thorn in Republicans’ side. Following are the top candidates.

Policymakers have made significant progress in the assigning of regulatory accountability, but more work is necessary.

During the past year, many have hoped for action from Washington that would alleviate regulatory burden and stem the rapid pace of consolidation. But in the current political environment, that appears increasingly unlikely.

Trump officials have made clear their intent to reexamine how Federal Housing Administration lenders are cited under the False Claims Act, but whether that means lenders can rest easier is an open question.

Four Democrats on the Senate Banking Committee pledged to vote against the confirmation of Joseph Otting as comptroller of the currency.

The financial services industry has largely warmly greeted the GOP’s proposed overhaul of tax policy, yet some provisions have triggered concern and uncertainty. Here is a rundown of the key provisions and how they may impact the industry.

The HUD secretary’s comment that such use of the False Claims Act was “ridiculous” may delight the mortgage industry but does not bode well for taxpayers or the federal government’s future fraud enforcement efforts.

Many industry observers believe Federal Reserve Board Janet Yellen will retire from the central bank once her term as chair expires in February. But there are reasons she might stay.

Growth in loans with higher debt-to-income ratios is reviving focus on a regulatory exemption for Fannie Mae, Freddie Mac and other federal agencies that back mortgages.

The proposed 20% corporate tax rate would benefit banks more than other industries; online lenders made nearly a third of new personal loans in the first half.

Fed Gov. Jerome Powell, who was first nominated to the central bank by former President Obama, is widely seen as a continuity choice.

Rule that would have made it easier for banks to be sued is repealed; a survey says the technology isn’t a priority for bank CIOs.

With little fanfare, President Trump officially nixed the rule prohibiting financial firms from including mandatory arbitration clauses, earning praise from credit union trade groups.

With little fanfare, President Trump officially nixed the rule prohibiting financial firms from including mandatory arbitration clauses.

Big banks have raised deposit rates faster than regionals in order to retain depositors; India’s largest payment app wants to expand.