Trump administration

The allegations against New York's attorney general involve transactions that occurred over decades, but James called the charges political retaliation.

The Trump administration says it will nominate Jonathan McKernan to serve as Treasury undersecretary for domestic finance. McKernan has already been nominated as the next director of the Consumer Financial Protection Bureau.

President Donald Trump's proposed budget would nix funding for Community Development Financial Institutions in minority-heavy areas while expanding it for rural areas.

The president said he had "no intention" of firing the Federal Reserve chair and promised that tariffs against Chinese imports would be lowered "substantially."

A federal judge has ordered a staff member of the Department of Government Efficiency and the Consumer Financial Protection Bureau's top lawyer to appear at an evidentiary hearing next week.

House Financial Services Committee ranking member Maxine Waters, D-Calif., led a group of Democrats in challenging Treasury Secretary Scott Bessent over the current state of the Community Development Financial Institutions Fund.

The National Credit Union Administration insists it can still function with one board member, but legal experts and industry groups say any substantive regulatory actions could face serious challenges.

A federal judge issued an order blocking the Trump administration from firing hundreds of Consumer Financial Protection Bureau employees, saying agency leadership had 'thumbed their noses' at the court's earlier injunction.

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 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.

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.

A recent letter addressed to the FHFA fueled a consumer advocacy group to look at salaries, which have been criticized as not aligned to the system's purpose.

Federal Reserve Gov. Michelle Bowman, who has been nominated to be the central bank's top regulator, sidestepped direct questions about the Trump administration's incursion into the Fed's regulatory independence.

President Trump placed a 90-day pause on most of his sweeping tariff package, but for banks and other financial market participants, the threat of volatility remains.

A federal appeals court panel seemed open to accommodating the Trump administration by putting some conditions on a preliminary injunction that has blocked it from reductions in force at the Consumer Financial Protection Bureau.

The tariff regime unveiled last week by President Donald Trump has injected a significant dose of uncertainty into the banking industry and unleashed the specter of an economic slowdown.

Federal Reserve officials want to see how exactly new trade policies impact the U.S. economy before adjusting interest rates. Markets and monetarists have different ideas about what that might look like.

Bankers are growing frustrated as President Donald Trump's trade policy causes turmoil in markets and confusion for clients. But banking trade groups in Washington — at least publicly — are remaining silent.