Ian McKendry is the Congress reporter for American Banker. He previously covered the Federal Deposit Insurance Corp., anti-money laundering and cybersecurity. Before joining American Banker he was an economic reporter for Market News International.
The president's budget calls for eliminating the Treasury's Community Development Financial Institution grant program, which often benefits poor and rural consumers in areas that Trump easily carried in the election.
In his meeting with community bankers, President Trump openly pondered the fate of CFPB Director Richard Cordray with his advisers and appeared eager to quickly fix industry concerns through executive orders.