Politics

Experts say the Trump administration is waiting for Scott Bessent to be confirmed as treasury secretary and for other appointees to clear the Senate before naming acting heads at federal banking agencies.

A document circulated by the House Ways and Means Committee makes a number of suggestions for cutting federal spending, including revoking the federal tax exemption for credit unions and eliminating the Federal Deposit Insurance Corp.'s orderly liquidation authority.

A Government Accountability Office report Thursday said emergency actions taken by federal regulators in the wake of Silicon Valley Bank's failure were justified and appear to have stemmed further disruption, but noted those actions could contribute to moral hazard.

Scott Turner, President Trump's pick to head the U.S. Department of Housing and Urban Development, faced opposition from Democrats on the Senate Banking Committee, but his nomination was nonetheless approved by a vote of 13-11.

The president has signed dozens of executive orders touching a wide range of government functions, but banking policy has largely gone untouched — so far.

Senate Republicans would like to do a large bill on immigration and energy first and then tackle tax reform in a second bill. House Republicans prefer one large bill.

The Consumer Financial Protection Bureau released a proposed version of the consent order on Jan. 17 and the company involved said it was finalized that day.

Matthew Ammon served as interim secretary between January and March 2021, ahead of the confirmation of now-retired head Marcia Fudge.

Trump's pick for treasury secretary commits to a thorough and careful recapitalization and release process for Fannie Mae and Freddie Mac.

President Trump reinstated a revised executive order from his first term that would make it easier for the White House to remove policy-facing federal employees — including Senior Executive Service employees. The National Treasury Employees Union sued the White House in response.