Trump administration

Acting Consumer Financial Protection Bureau Director Russell Vought ordered bureau employees to "stand down" and perform no work, effective immediately.

Russell Vought, the Consumer Financial Protection Bureau's new acting director, ordered staff to stop all work and closed the agency's headquarters for a week.

Newly-confirmed Office of Management and Budget Director Russell Vought, a key architect of Project 2025, has been charged with overseeing an agency Republicans have vowed to eliminate, according to a Wall Street Journal report.

Tom Krause, the chief executive of Cloud Software Group, and Marko Elez, an engineer who has worked for SpaceX and social-media platform X, have offices in the Treasury Department, according to sources.

Some mortgage stakeholders say Trump's tariffs would make interest rates rise and housing costs shoot up.

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."

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.

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 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.

The final vote was 68-29 in favor of Senate the confirmation of the billionaire hedge fund manager.

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.

The president has signed dozens of executive orders touching a wide range of government functions, but banking policy has largely gone untouched — so far.

Senate Republicans would like to do a large bill on immigration and energy first and then tackle tax reform in a second bill. House Republicans prefer one large bill.

Trump's pick for treasury secretary commits to a thorough and careful recapitalization and release process for Fannie Mae and Freddie Mac.

President Trump reinstated a revised executive order from his first term that would make it easier for the White House to remove policy-facing federal employees — including Senior Executive Service employees. The National Treasury Employees Union sued the White House in response.

The Federal Deposit Insurance Corp.'s newly installed Acting Chairman Travis Hill issued a statement laying out his priorities for the agency, including reviewing and repealing Biden-era bank regulations, a softer approach to fintech and crypto and addressing so-called debanking.

Sunsetting the federal oversight of Fannie Mae and Freddie Mac could ease the cost of renewing President Trump's 2017 tax act, but doing so is an uphill battle.