Trump

Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.

The White House said it will appeal a circuit court ruling allowing Federal Reserve Gov. Lisa Cook to remain on the central bank board while her lawsuit challenging her dismissal is litigated.

As President Trump calls for scrapping quarterly earnings reports and switching to a six-month schedule, industry observers wonder whether the time saved would be worth the potential loss of transparency.

The Department of Justice argued that Federal Reserve Gov. Lisa Cook has not provided an explanation for her alleged primary residential claims on separate mortgage applications, but the motion made no mention of newly uncovered documentation that suggests Cook represented one of those mortgages as a vacation home in her application, undermining claims of fraud.

The Office of the Comptroller of the Currency's recent bulletin warning banks that past debanking actions could affect supervisory reviews is the latest effort to put the president's executive order on debanking into action. But industry sources say the order itself forces banks to choose between pleasing their regulators and taking on unwanted risk.

The Consumer Financial Protection Bureau told its staff to expect an upcoming reduction in force because the agency's budget was cut in half by the president's recently passed tax and budget bill.

Bill Pulte, director of the Federal Housing Finance Agency, may have violated federal privacy laws by releasing personal information on mortgages taken out by Federal Reserve Gov. Lisa Cook — actions that served as a basis for President Trump's efforts to remove her from office late last month.

The Senate Banking Committee voted 13-11 to favorably recommend Stephen Miran's nomination for the Federal Reserve Board to the full Senate.

A federal district court judge granted an injunction allowing Federal Reserve Gov. Lisa Cook to remain on the central bank's board pending the outcome of her legal challenge to President Donald Trump's move to fire her late last month.

Stephen Miran will take unpaid leave from and might seek to return to President Trump's Council of Economic Advisers, he said, raising conflict of interest questions in his nomination hearing for a seat on the Federal Reserve Board.