Claire Williams

The Consumer Financial Protection Bureau is laying off more than 1,400 employees just days after a panel of judges said the bureau couldn't fire employees without an assessment of whether the workers are unnecessary to perform the bureau's legally mandated duties.

A bill being introduced by Sen. Catherine Cortez Masto, D-Nev., would compel the Federal Home Loan Bank System to contribute 30%, or a minimum of $200 million, of each bank's net earnings into affordable housing or other community development programs.

Federal Reserve Gov. Michelle Bowman, who has been nominated to be the central bank's top regulator, sidestepped direct questions about the Trump administration's incursion into the Fed's regulatory independence.

Congressional Review Act resolutions to nullify the Consumer Financial Protection Bureau's overdraft and larger participant rules now go to President Trump for his signature.

Senate Banking Committee Chairman Tim Scott said Jonathan McKernan's final confirmation vote to lead the Consumer Financial Protection Bureau is "imminent."

Bankers are growing frustrated as President Donald Trump's trade policy causes turmoil in markets and confusion for clients. But banking trade groups in Washington — at least publicly — are remaining silent.

Jonathan Gould, President Donald Trump's pick to lead the Office of the Comptroller of the Currency, passed through the Senate Banking Committee on a party-line 13 to 11 vote.

The Treasury Department told the OMB that all 11 programs in the CDFI Fund are statutorily mandated. The White House said "no final decisions have been made" about the programs.

The Senate Banking Committee considered the nomination of Paul Atkins to lead the Securities and Exchange Commission, whose track record on deregulation in the lead up to the 2008 financial crisis was questioned by Democratic lawmakers. Lawmakers also considered the nomination of Jonathan Gould to lead the Office of the Comptroller of the Currency and Luke Pettit for a key bank regulatory role at Treasury.

Rep. Andy Barr, R-Ky., who chairs the House Financial Services Subcommittee on Financial Institutions, called the CFPB under the Biden administration and former Director Rohit Chopra an "Orwellian predator."

Wall Street veteran Frank Bisignano pledged at a Senate Finance Committee hearing that he doesn't plan to privatize Social Security.

The bipartisan co-chairs of the Community Financial Development Institution caucus sent a letter urging the Trump administration to continue supporting the CDFI Fund after it was slated for cuts in a recent executive order.

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.

A federal judge said she is inclined to issue a preliminary injunction to stop the Trump administration dismantling the Consumer Financial Protection Bureau.

In a packed courtroom, a federal judge parsed whether the Trump administration's aggressive actions to rein in the Consumer Financial Protection Bureau are part of a "normal" transition of power or would impede its statutorily required functions.

The nomination of Jonathan McKernan to lead the Consumer Financial Protection Bureau moves to the full Senate, where he's likely to be confirmed along party lines.

President Donald Trump said he inherited an "economic catastrophe" from his predecessor in a joint address to Congress, though markets fell Tuesday on fears of a budding trade war with Canada and Mexico.

At a court hearing on Monday, lawyers for the Trump administration said statutorily required work is being done by the Consumer Financial Protection Bureau, while the union claimed the government is trying to shut the agency down.

The Consumer Financial Protection Bureau's decision to no longer pursue its enforcement action against the credit reporting bureau marks the eighth lawsuit dropped by the agency in recent days.

While Sen. Elizabeth Warren, D-Mass., is continuing to try and save the agency she helped create, Sen. Adam Schiff, D-Calif., who benefited from crypto spending in his primary race, is a new ally.