Politics

The statement posted on social media platform X could reflect policy, politics or both.

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.

The state and local tax deduction is a write-off that most Americans will never claim, even in the districts of the lawmakers fighting hardest to increase the tax break, data analyzed by Bloomberg News shows. 

Federal Reserve Gov. Michael Barr — who recently stepped down as the central bank's vice chair for supervision — urged banks and regulators to use emerging technologies to keep pace with bad actors.

In a post on his social media platform Thursday morning, the president criticized the Federal Reserve's reluctance to lower rates and said the chair's departure "could not come soon enough."

The Consumer Financial Protection Bureau and Townstone Financial, a Chicago mortgage lender that it sued in 2020, jointly asked a federal court to vacate a settlement, saying the case should never have been filed.

The Federal Housing Administration has accelerated the timeline and will make the wait time for repeat home retention requests longer than originally planned.

In internal shakeup, the Office of the Comptroller of the Currency will unify supervision divisions, revive the Chief National Bank Examiner office, and elevate IT oversight as part of a broader streamlining push.

Federal Reserve Chair Jerome Powell warned that actions that undermine the apparent stability of the U.S. economy could have lasting effects on its status as a global safe haven.

Senators want to investigate the rapid changes to Fannie Mae and Freddie Mac's boards of directors, and seek more clarity about reported layoffs.

A bipartisan group of representatives co-sponsored the bill, aiming to make permanent and expand eligibility for a deduction previously offered for 14 years.

The agency is seeking input on how to better open up industries up to new entrants. Some see this opening the door to more competition for banks.

Federal Reserve Board member Christopher Waller said he would not be deterred from classifying inflation as "transitory" despite the board's recent experience underestimating inflationary pressures.

Omeed Malik, who runs a merchant bank and a hedge fund, is a Republican donor and works with Republican-linked businessmen including Donald Trump Jr.

Acting Consumer Financial Protection Bureau Director Russell Vought also directed that future guidance not use the words "shall," "must," "required" or "requirement" to direct parties outside the federal government, except when restating clear legal mandates. 

Two recent executive orders could speed up the administration's push to rollback regulations, but they also change the notice-and-comment rulemaking process.

The Consumer Financial Protection Bureau said it will not enforce or supervise nonbank financial firms that miss upcoming compliance deadlines for the nonbank registry of repeat offenders.

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.

A version of the Neighborhood Homes Investment Act has been introduced in three prior sessions of Congress, but has never made it through the process.

The Federal Housing Finance Agency ended comments on expanded suspended counterparties list criteria in December and has done nothing with it since.