Trump administration

A federal court cannot modify a preliminary injunction to compel the acting director of the Consumer Financial Protection Bureau to request funding for the agency, the Department of Justice said.

Democratic senators are calling for Senate Banking Committee Chairman Tim Scott to compel the acting director of the Consumer Financial Protection Bureau to testify.

In oral arguments held Monday morning, a majority of Supreme Court justices seemed poised to overrule a 90-year-old precedent validating multimember independent commissions, but it remains uncertain what limits — if any — the court may impose on the president's removal powers.

The Consumer Financial Protection Bureau's acting Director Russell Vought has an obligation to request funding for the agency, five former Federal Reserve officials said. Plus, three nonprofits sue Vought and the CFPB.

The Trump administration's decision not to seek funding for the CFPB and transferring remaining enforcement cases to the Department of Justice were cited as reasons for the resignation of Michael G. Salemi, who took over as CFPB enforcement chief earlier this year.

The Government Accountability Office has agreed to investigate Federal Housing Finance Agency Director Bill Pulte for allegations of misuse of power and violations of federal privacy laws

In a relatively mild oversight hearing in the House Financial Services Committee Tuesday morning, regulatory heads at the Federal Reserve, Office of the Comptroller of the Currency, National Credit Union Administration and Federal Deposit Insurance Corp. outlined plans for reduced capital requirements and debanking enforcement.

The Consumer Financial Protection Bureau and its union filed legal briefs Friday after a district court judge asked if a preliminary injunction aimed at preventing a mass layoff is still in effect.

Now that the Consumer Financial Protection Bureau has refused to request funding from the Federal Reserve System, many experts see the case making its way to the Supreme Court.

The Natural Treasury Employees Union has asked a district court to clarify whether Russell Vought, the acting director of the Consumer Financial Protection Bureau, has complied with a preliminary injunction.

The Consumer Financial Protection Bureau said the new oath was necessary because prior leadership engaged in what it describes as "thuggery" during exams. Former CFPB officials rejected the agency's characterization of past actions.

Travis Hill's nomination to lead the Federal Deposit Insurance Corp. was recommended favorably by the Senate Banking Committee to the full Senate Wednesday morning in a 13-11 party-line vote.

President Trump has nominated Stuart Levenbach, associate director of the Office of Management and Budget, to be the director of the Consumer Financial Protection Bureau. His selection allows acting CFPB Director Russell Vought to remain in place for at least another 210 days.

The Department of Justice told a court that the Consumer Financial Protection Bureau cannot legally request funding from the Federal Reserve System, arguing that the Fed has not turned a profit since 2022 and thus cannot fund the CFPB.

President Donald Trump downplayed criticism of the potential creation of a 50-year mortgage product, saying it would help more Americans afford monthly payments on homes. 

James is contesting charges brought earlier this month by a prosecutor whom President Donald Trump abruptly installed after her predecessor resigned under pressure.

The Department of Justice has filed a motion opposing the Consumer Financial Protection Bureau employee union's appeal of an August D.C. Circuit ruling allowing the administration to fire up to 90% of the agency's workforce.

A federal judge in San Francisco ordered a temporary halt to reduction in force orders issued by the Office of Management and Budget during the government shutdown, while OMB Director Russell Vought has said he expects to lay off more than 10,000 federal workers.

Federal Reserve Governor Stephan Miran said the economic standoff with China could increase market volatility, further necessitating the central bank to move its policy stance to neutral.

The Consumer Financial Protection Bureau has announced job openings for attorney-advisors to represent the agency in defensive and appellate litigation.