Trump administration

President Trump posted a letter on social media addressed to Federal Reserve Gov. Lisa Cook, informing her that he was terminating her due to allegations of mortgage fraud. The move is likely to tee up an unprecedented legal fight over the Fed's independence.

The President said in response to a press question about Federal Reserve Gov. Lisa Cook that he would fire her "if she doesn't resign" over allegations of claiming primary residence at two properties she owns, though the legality of such a move is unclear.

By a 2-1 vote, a three-judge panel of the D.C. Circuit Court of Appeals ruled that the CFPB's union did not have a reviewable claim under the Administrative Procedure Act. The union is expected to appeal to the full D.C. Circuit.

President Trump said Thursday that he will nominate Stephen Miran, who currently serves as chair of the White House Council of Economic Advisers, as the next member of the Federal Reserve Board of Governors. Miran is a key architect of President Donald Trump's tariff policy.

President Trump in an interview Tuesday morning railed against big banks for allegedly discriminating against conservatives, a notable shift in tone that puts more responsibility for the debanking debacle on banks rather than regulators.

The president said he would soon announce a replacement for departing Fed Gov. Adriana Kugler, adding that it's a "possibility" that his selection for that seat on the Federal Reserve Board will be tapped as the next Fed Chair.

President Donald Trump accused two of the nations' largest banks of rejecting his business, following a report his administration was preparing an executive order threatening financial institutions who refused to do business on ideological grounds.

The removal of the commissioner of the Bureau of Labor Statistics is unlikely to change government data practices in the near term, experts say, but the perception of interference will have a big effect on the credibility of government economic metrics going forward.

The Consumer Financial Protection Bureau sent a letter to the Government Accountability Office last week criticizing a probe into the bureau's funding request for 2025, insisting that acting CFPB Director Russell Vought has "sole discretion'' to determine funding and staffing levels.

The Community Investment and Prosperity Act would increase the statutory cap for bank investment into community development projects, unlocking "billions in capital" that can be directed to affordable housing.

President Trump and Senate Banking Committee Chair Tim Scott, R-S.C., visited the Federal Reserve Board headquarters Thursday afternoon to inspect ongoing renovations whose cost overruns have heightened scrutiny of Fed chair Jerome Powell.

The Department of Justice has filed a notice that it will appeal a D.C. District Court ruling that reinstated two democratic members of the National Credit Union Administration who had been fired by President Trump earlier this year.

Calls for applications for a bank-specific program within the Community Development Financial Institution Fund have been delayed, raising the possibility that those funds are unspent before the appropriated money expires.

The union representing the Consumer Financial Protection Bureau in their suit against mass firings at the agency said the Supreme Court's ruling allowing President Trump to proceed with mass reductions-in-force elsewhere does not impact the union's lawsuit.

Steep trade barriers that were set to go into effect on July 9 have once again been put on pause, giving banks a welcome reprieve, but adding still more pressure and uncertainty on the Federal Reserve and the broader economy.

Navy Federal Credit Union will not pay a $15 million fine or $80 million in restitution to service members who were illegally charged surprise overdraft fees when their accounts had sufficient funds.

The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.

The Senate advanced the One Big Beautiful Bill Act through a procedural vote, opening the legislation for debate followed by Monday's vote-a-rama.

The Senate Banking Committee is now proposing to cut the cap by which the Consumer Financial Protection Bureau can request funds from the Federal Reserve to 6.5% of the Federal Reserve's operating budget after its opening bid of 0% was rejected by the Senate parliamentarian.

The decision to relocate HUD headquarters comes after its current location had been included on a Trump administration cost-cutting list earlier this year.