Politics

Federal regulators' plan to rescind reforms to the anti-redlining Community Reinvestment Act implementation rules disappoints community advocates, but gives banks clarity by reverting to longstanding CRA rules.

The director, confirmed less than a month ago, has issued 12 orders via the social media platform that reverse Biden-era initiatives.

The Consumer Financial Protection Bureau has chosen to prosecute only a handful of cases as the Trump administration drops other investigations, claiming enforcement is not mandated by the Dodd-Frank Act.

The Department of Justice said in a court filing Friday that a February stop-work order from acting Consumer Financial Protection Bureau Director Russell Vought did not entail stopping statutorily mandated work by the bureau, defying earlier testimony.

Republican lawmakers, mulling a new partial claim proposal, slammed the expiring program that has purchased thousands of mortgages as Biden-era overreach.

The central bank wants to let Trump's policies play out across the economy before deciding which way to move interest rates, and it's too soon to know what the impacts will be, the Federal Reserve chair said.

The GOP side of the Banking Committee, led by Sen. Tim Scott, asks FHFA head Bill Pulte to "aggressively" reduce waste at the government-sponsored enterprises.

Lumber retains protections for now, but construction stocks still fell, and while the initial market reaction lowered rates, there could later be a reversal.

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.

Compliance concerns prevent some lenders from moving toward development of an AI plan or policy, but hesitancy may turn out to be a poor business strategy.