Trump

Senate Banking Committee ranking member Elizabeth Warren, D-Mass., said the National Credit Union Administration's efforts to roll back 31 rules without a board quorum could jeopardize the credit union system's stability and legitimacy.

Christopher Phelan, President Donald Trump's nominee to chair the Council of Economic Advisers, declined to directly answer questions about recent inflation data and the effects of tariffs on consumers during a Senate confirmation hearing Thursday.

In 2024, a Honduras-born man who was buying a motorcycle was turned down for a loan. Two years later, Truist Financial is facing a discrimination lawsuit — and the plaintiff's lawyer says many lenders are vulnerable to the same accusations.

The Senate Banking Committee is slated to consider Christopher Phelan to be the chair of the Council of Economic Advisers on Thursday. Phelan has said in past academic papers that fractional reserve banking is "highly problematic."

Guidance documents from the Consumer Financial Protection Bureau and Treasury's Financial Crimes Enforcement Network heightening bank scrutiny of individual tax identification numbers in mortgage applications could discourage banks from issuing those kinds of loans.

The newly minted Fed chairman announced working groups for his five top policy priorities and strictly refrained from forward guidance in his debut press conference Wednesday afternoon.

Newly minted Federal Reserve Chair Kevin Warsh will host his inaugural press conference on Wednesday. Bankers will be paying close attention to what he says — and how he says it.

Federal prosecutors have sought records and account closure data from banks as the Trump administration continues to clash with the industry.

Banking Committee Democrats warned that the Trump administration's failure to nominate Democrats to vacancies at the Federal Deposit Insurance Corp., Securities and Exchange Commission and National Credit Union Administration threatens the bipartisan structure Congress established for financial regulators.

The former crypto wunderkid added a presidential-pardon application to the long list of attempts to get his sentence reduced.