Trump

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.

A federal judge ruled that acting Consumer Financial Protection Bureau Director Russell Vought unlawfully refused to request agency funding from the Federal Reserve Board, dealing a procedural blow to a legal argument that the Fed can only fund the CFPB when it turns a profit.

Federal bank enforcement actions have dropped sharply since the start of the second Trump administration, but experts' views vary about whether less enforcement will result in a buildup of risk in the financial system.

Cameron Bready, the firm's CEO, noted the company's clients include 12 large Middle Eastern airlines, and the closed airspace "isn't ideal."