Trump establishes committee to investigate Fed’s Cook
President Donald Trump announced the formation of a committee to investigate allegations of mortgage impropriety by Federal Reserve Gov. Lisa Cook in an effort to remove her from office.
Trump administration
To fire Cook from the Fed, Trump looks to channel Taft
The president has initiated a for-cause process to remove the Federal Reserve Board governor from office, something only one president has successfully done before. But that century-old precedent may not offer Trump much useful guidance in his quest.
CFPB gets another acting director as OMB’s Vought exits
Mark Paoletta, the Consumer Financial Protection Bureau's chief legal officer, has taken over as the agency's acting director. Russell Vought's term ended Aug. 1.
CFPB pick Johnson eludes Democrats in confirmation hearing
Brian Johnson, President Trump's nominee to lead the Consumer Financial Protection Bureau, navigated a somewhat contentious Senate Banking Committee hearing dominated by Democratic opposition but without giving away specific plans he has for the agency.
CEA nominee pressed on inflation, tariffs during Senate hearing
Christopher Phelan, President Donald Trump's nominee to chair the Council of Economic Advisers, declined to directly answer questions about recent inflation data and the effects of tariffs on consumers during a Senate confirmation hearing Thursday.
Four things to watch in Kevin Warsh’s Fed debut
Newly minted Federal Reserve Chair Kevin Warsh will host his inaugural press conference on Wednesday. Bankers will be paying close attention to what he says — and how he says it.
Senate Dems press White House to fill vacancies on FDIC, NCUA
Banking Committee Democrats warned that the Trump administration's failure to nominate Democrats to vacancies at the Federal Deposit Insurance Corp., Securities and Exchange Commission and National Credit Union Administration threatens the bipartisan structure Congress established for financial regulators.
Warsh clears Senate Banking Committee
Kevin Warsh's nomination to be the next chair of the Federal Reserve passed through the Senate Banking committee in a party-line vote.
Interest rates are the most certain thing about FOMC meeting
The Federal Open Market Committee's April meeting — likely Federal Reserve Chair Jerome Powell's last — is unanimously expected to keep interest rates steady, but questions about energy, inflation and the upcoming transition in leadership still loom.
Bankers most worried about cybersecurity, economy: Survey
Fintech firm IntraFi's most recent quarterly survey of bank executives showed rising pessimism among bankers related to "instability in Washington," as well as growing concerns about technology-enabled fraud.
Mortgage order adds more rules to diminished CFPB’s load
A recent executive order encouraging changes to the Consumer Financial Protection Bureau's Ability-To-Repay and Qualified Mortgage rules are adding to a packed agenda at a time when the agency has lost a third of its staff.
Fed Chair Powell to stay on until DOJ concludes probe
Federal Reserve Chair Jerome Powell, in a post-FOMC meeting Wednesday, said he intends to stay at his post until a successor has been confirmed, adding that he will remain on the Fed board until a Justice Department investigation into him is concluded.
Federal court rules against CFPB in funding lawsuit
A federal judge ruled that acting Consumer Financial Protection Bureau Director Russell Vought unlawfully refused to request agency funding from the Federal Reserve Board, dealing a procedural blow to a legal argument that the Fed can only fund the CFPB when it turns a profit.
Housing bill moves forward with institutional housing ban
Sens. Tim Scott, R-S.C., and Elizabeth Warren, D-Mass., released new legislative language Monday night that includes a ban on institutional investors' purchase of single family homes and a temporary ban on the Federal Reserve issuing a Central Bank Digital Currency.
Can Trump fire nearly all CFPB staff? Appeals court isn’t sure
Judges on the U.S. Court of Appeals for the District of Columbia struggled to find a resolution to an injunction issued last year that halted reductions-in-force by the Consumer Financial Protection Bureau.
CFPB shutdown battle reaches crucial D.C. Circuit hearing
The CFPB is in an existential legal brawl against it's own acting director, Russell Vought, and President Donald Trump, whose confirmed goal is to kill the agency.
White House report says CFPB raised borrowing costs
A White House Council of Economic Advisers report published Tuesday found that the CFPB cost consumers between $237 and $369 billion since its creation, an analysis that consumer advocates and some financial academics say is flawed.
Experts weigh whether CFPB database tweaks help or hurt
The Consumer Financial Protection Bureau's complaint portal has been flooded in recent years, but corporate debt collectors, industry attorneys and consumer advocates question whether the bureau's efforts to reduce the volume will help consumers as much as it helps the firms they're complaining about.
CFPB blocks GAO investigators in layoff report
The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
Bessent offers deregulatory vision, but few specifics
In a contentious House Financial Services Committee oversight hearing, Treasury Secretary Scott Bessent sidestepped questions on the Trump family crypto conflicts of interest and inflation with pugnacious responses to Democratic lawmakers' questions.
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