Trump administration

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.

James was charged with one count of alleged bank fraud and one count of making false statements to a financial institution. The indictment made public on Thursday follows allegations from Trump administration officials that James engaged in mortgage fraud. 

A series of social media posts, from the US president over the weekend and then from the FHFA director and real estate scion Pulte on Wednesday, are helping put an S&P gauge of builders on track for a four-day losing streak.

Top Democratic lawmakers are asking the full appeals court to hear a case about the Trump administration's efforts to fire employees at the Consumer Financial Protection Bureau.

House Financial Services Committee ranking member Maxine Waters, D-Calif., asked bank regulators to give banks the supervisory clearance to extend lines of credit and modify loan terms for federal employees furloughed after the government shut down last week.

The first government shutdown since 2019 will slow flood insurance originations and new Small Business Administration loans, though self-funded banking regulators will continue operating as usual.

The Supreme Court said Wednesday that it would defer President Donald Trump's request for a stay until after oral arguments scheduled for January 2026, allowing Federal Reserve Governor Lisa Cook to remain on the board at least until then.