Trump administration

CFPB Director Richard Cordray abruptly announced Friday that he would leave at the end of the day, giving the reins of the agency to a new deputy director.

Federal Reserve Chair Janet Yellen announced Monday that she intends to step down from the Board of Governors after her successor is sworn in when her term expires early next year, ending any speculation that she may stay on.

It’s a seat the Trump administration has long wanted vacated, and now it gets a chance to fill it — and change the direction of an agency that’s been a thorn in Republicans’ side. Following are the top candidates.

During the past year, many have hoped for action from Washington that would alleviate regulatory burden and stem the rapid pace of consolidation. But in the current political environment, that appears increasingly unlikely.

Trump officials have made clear their intent to reexamine how Federal Housing Administration lenders are cited under the False Claims Act, but whether that means lenders can rest easier is an open question.

The HUD secretary’s comment that such use of the False Claims Act was “ridiculous” may delight the mortgage industry but does not bode well for taxpayers or the federal government’s future fraud enforcement efforts.

Many industry observers believe Federal Reserve Board Janet Yellen will retire from the central bank once her term as chair expires in February. But there are reasons she might stay.

Growth in loans with higher debt-to-income ratios is reviving focus on a regulatory exemption for Fannie Mae, Freddie Mac and other federal agencies that back mortgages.

Fed Gov. Jerome Powell, who was first nominated to the central bank by former President Obama, is widely seen as a continuity choice.

With little fanfare, President Trump officially nixed the rule prohibiting financial firms from including mandatory arbitration clauses.