Politics

The mortgage securities guarantor told the Government Accountability Office it was held back by the limits of its role and information sharing constraints.

Treasury Secretary Scott Bessent, who was named to be acting director of the Consumer Financial Protection Bureau, has told the agency's staff to put a halt to all rules, enforcement actions and hiring.

The president has named Treasury Secretary Scott Bessent to run the Consumer Financial Protection Bureau on an acting basis after firing CFPB Director Rohit Chopra over the weekend.

The Consumer Financial Protection Bureau's Rohit Chopra in a letter to President Donald Trump confirmed that his "term as CFPB Director has concluded."

The regulator has a projected fiscal year 2025 budget of $810 million, according to a nonpartisan analysis.

The Federal Home Loan Bank called the transition to special policy advisor a joint decision between the executive and board as new reviews in Washington start.

The Trump administration's Office of Personnel Management sent a memo of frequently asked questions encouraging civil servants to go on vacation and even take a second job, which in some instances is contrary to longstanding agency conflict-of-interest rules.

In a Friday speech, Federal Reserve Board member Michelle Bowman said regulation and supervision should be aimed at expanding banking access, not limiting it.

Russell Vought, should he be confirmed by the full Senate, would join a short list of those able to lead the CFPB, as his predecessor Mick Mulvaney did, per the requirements of the Vacancies Act.

Mortgage experts were expecting the first FOMC meeting under President Trump would have more significance in the long run than short-term, with some wild cards.

The former CEO of the Broker Action Coalition left that post after 10 months following that group's split from the Association of Independent Mortgage Experts.

Mortgage experts were expecting the first FOMC meeting under President Trump would have more significance in the long run than short-term, with some wild cards.

The National Treasury Employees Union told employees not to respond to the mass email asking federal workers to resign. The chief of staff at the Consumer Financial Protection Bureau said it is reviewing the directive.

A presidential memo on Monday imposed a pause on certain types of government funding until programs are reviewed to ensure compliance with Trump executive orders.

The FEMA-operated program has over 4.7 million policies in force, and lawmakers have kept it intact via dozens of short-term extensions since 2017.

The chair of the Senate Banking Committee said the Trump administration will soon address the future of the Consumer Financial Protection Bureau director. "I think we're going to be happy with the answer they give us and the person they give us as well," the Republican from South Carolina said.

Fannie Mae and Freddie Mac's stock were downgraded to "underperform" by KBW as they are currently priced above its expectations.

The subcommittee to be chaired by Sen. Katie Britt, R.- Ala. will oversee servicing and HUD at a time when Republicans are resurfacing legislative proposals they now have more power to advance.

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.