Trump

The Consumer Financial Protection Bureau has rehired more than 100 fire employees, but the union claims dozens of employees have not been reinstated in violation of a federal court order.

Presidents have long rushed to take credit for booms and distanced themselves from busts. But Trump's situation is unusual. The risks to the U.S. economy — potentially including stagflation or even recession — are closely linked to his own flagship initiative: a new tariff bonanza due in just over two weeks.

The firings are the latest by the president to challenge a 90-year legal precedent that shields members of independent agencies, part of his administration's move to gain greater influence across the government.

Without citing examples, acting comptroller Rodney Hood expressed disgust at what he called the "debanking" of certain businesses.

The Treasury secretary pointed to figures from credit cards and banks as "very good underlying data."

President Donald Trump's executive order severely limiting the Treasury's Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.

It's been rare for a fintech to win regulatory approval to become a bank, with none receiving approval under President Joe Biden and only a few successfully obtaining charters before that.

President Trump's selection of Federal Reserve Gov. Michelle Bowman as the next vice chair for supervision comes as banking groups and their allies in Congress asked the administration to fill the position quickly. Bowman was the preferred choice for many in the industry.

The stopgap funding bill paves the way for Republican lawmakers to pivot to signature border and tax bills they seek to pass in the coming months.

An executive order issued late Friday cut the Treasury Department Community Development Financial Institution Fund and other federal programs to their legal minimum.