The Treasury Department and several other federal agencies told a US judge that her order temporarily halting layoffs tied to the government shutdown doesn’t apply to more than 2,000 employees who have already received firing notices. In sworn declarations filed Friday, officials with the departments of the Treasury, Health and Human Services and Homeland Security said their […]
Court order won’t stop some shutdown layoffs Read More »
Treasury Secretary Scott Bessent said he would present President Donald Trump with a list of candidates to serve as the next chair of the Federal Reserve in December. “Likely sometime after Thanksgiving, in December, we’ll present the president with three or four candidates for him to interview,” Bessent told CNBC on Wednesday. Bessent said he’s
Bessent says he’ll give Trump Fed Chair options in December Read More »
A government-sponsored enterprise oversight agency floated a new strategic plan on Wednesday that includes an emphasis on the supply side of the housing market in one portion of three overarching goals. US Federal Housing will be collecting comments through Nov. 5 on the new plan for its operations, two GSEs it oversees that are in
FHFA seeks comment on new strategic plan for GSEs Read More »
Adobe Stock The Trump Administration’s threat to layoff federal workers if the government shutdown continued came to fruition Friday, including some housing cuts. Employees from seven departments were laid off, 442 from HUD, according to a court filing Atlanta News First obtained. In total, 4,200 employees received notices, a little over 10% of which came
HUD to lay off 400 employees amid government shutdown Read More »
Bloomberg News Key Insight: Federal Reserve Chair Jerome Powell reflected on the Fed’s aggressive asset purchases during the pandemic, noting that it may have been an overreaction. Expert quote: “With the clarity of hindsight, we could have — and perhaps should have — stopped asset purchases sooner,” said Fed Chair Powell. What’s at stake: The
Powell acknowledges Fed could have ended Covid-era QE sooner Read More »
A key Republican housing regulator’s responses to an inquiry from Sen. Catherine Cortez Masto, D-Nev., on the status of several Federal Home Loan Bank reforms suggests few are likely to move forward. Federal Housing Finance Agency Director Bill Pulte, who oversees the Federal Home Loan Banks, said in a letter to the senator posted on
Pulte responds to Democrats on FHLBs, meeting transparency Read More »
Key insight: Treasury said it will abolish the CDFI Fund in reduction in force notices handed out to employees on Friday. Forward look: The CDFI funding that’s already been appropriated could be subject to what’s called a “pocket recession,” a move likely to be legally challenged. What’s at stake: Millions of dollars for banks and
Exclusive: Trump admin lays off Treasury CDFI staff Read More »
Key Insight: A higher volume of litigation necessitates the hiring of more defense and appellate counsel. What’s at Stake: A shortage of attorneys could delay rulemakings and weaken the agency’s defense in federal courts. Supporting Data: By some estimates, about 500 employees have left the agency since the Trump administration took over and Vought told
Amid looming layoffs, CFPB is hiring attorney-advisors Read More »
New York Attorney General Letitia James was indicted by a federal grand jury in Virginia, making her the second of President Donald Trump’s perceived political enemies to be criminally charged in two weeks. James was charged with one count of alleged bank fraud and one count of making false statements to a financial institution. The indictment made
NY Attorney General Letitia James indicted over fraud claims Read More »
The National Fair Housing Alliance and a top Democrat are criticizing the new leader of a federal fair housing office over his alleged troubling record regarding civil rights. Craig Trainor was confirmed Wednesday as the assistant secretary for the Office of Fair Housing and Equal Opportunity at the Department of Housing and Urban Development. Senators
Critics question HUD fair housing boss’ civil rights record Read More »