Trump

Goldman Sachs Chief Legal Officer Kathryn Ruemmler received an 11% pay hike last year, bringing her total compensation to $25 million; U.S. Bank promoted Toby Clements to chief operations officer; Klarna is expanding its forward-flow and whole-loan sale deal with Elliot Investment Management to $2 billion; and more in this week's banking news roundup.

The Federal Deposit Insurance Corp.'s Office of Inspector General said in a Thursday report that staffing cuts over the past year could strain supervision and the agency's response to a crisis.

A recent executive order encouraging changes to the Consumer Financial Protection Bureau's Ability-To-Repay and Qualified Mortgage rules are adding to a packed agenda at a time when the agency has lost a third of its staff.

The Financial Stability Oversight Council Wednesday published a proposed guidance focused on designating activities rather than individual firms for heightened prudential standards, making it more difficult for the council to designate firms going forward.

What was once a bipartisan and broadly popular housing bill has been weighed down with a pair of provisions that banks can't support. Even with those headwinds, the bill is more likely than not to pass, but not without drawn-out negotiations between the House and Senate.

A federal judge said Friday that the Trump Organization will have three months to collect new evidence and refile its complaint. It alleges that Capital One illegally closed hundreds of its accounts following the Jan. 6, 2021, attacks on the U.S. Capitol.

The reported reversal comes after the industry worried verifying citizenship would strain banks and push customers out of the system.

Federal Reserve Chair Jerome Powell, in a post-FOMC meeting Wednesday, said he intends to stay at his post until a successor has been confirmed, adding that he will remain on the Fed board until a Justice Department investigation into him is concluded.

Over the course of its first year in office, the second Trump administration has neutralized the enforcement of key civil rights laws by reorienting Consumer Financial Protection Bureau rules and eliminating "disparate impact" that allows banks to be penalized for the discriminatory effects of policies without proving discriminatory intent.

A coalition of Democratic attorneys general, led by California and Illinois, have sued the Department of Housing and Urban Development over a guidance that they argue will scale back enforcement to strict federal standards and threaten state funding to enforce fair housing laws.