Al Drago/Bloomberg Key Insight: The Consumer Financial Protection Bureau’s new “Humility Pledge” is mandated for all supervisory examiners, with a focus on pressing threats to consumers, particularly service members and veterans. What’s at Stake: The CFPB said it wants to avoid duplication of supervision with state regulators and reduce the 8-week exam cycle. Expert […]
CFPB says bank supervisors must take ‘humility oath’ Read More »
Several candidates have been publicly identified to serve as the next chair of the Federal Reserve, with current Chair Jerome Powell‘s term coming to an end in May. Treasury Secretary Scott Bessent told CNBC’s Sara Eisen in October that he would give President Donald Trump “three or four candidates for him to interview” shortly after Thanksgiving. Trump, however, told reporters
With Powell set to move on, who are the candidates for the next Fed chair? Read More »
Key insight: Hill’s continued tenure at the FDIC isn’t likely to change the agency’s direction on bank policy. Forward look: His nomination now goes to the full Senate, where he’s expected to be confirmed. What’s at stake: Hill’s policies at the FDIC have included rescinding ILC rules and pursuing policies that he has said will
Senate Banking Committee approves Hill to lead FDIC Read More »
Key Insight: The nomination allows acting CFPB Director Russell Vought to bypass the Federal Vacancy Reform Act. What’s at Stake: Vought has three weeks left before he reaches the 210-day limit to remain at the agency. With the nomination, he gets another 210 days and potentially can lead on an acting basis for 420 days.
Trump taps OMB official as new nominee for CFPB director Read More »
The Supreme Court could decide on the legality of many of the Trump administration’s tariffs within months, but the ruling won’t impact many of the administration’s levies on imported construction materials such as lumber, steel, aluminum and copper. The case before the Supreme Court contests the legality of the president’s use of the International Emergency
The National Fair Housing Alliance (NFHA) reported that 32,321 housing discrimination complaints were filed nationwide in 2024 — one of the highest totals recorded across the past two decades. According to the report, disability-related discrimination accounted for the largest share of complaints at 54.6%, followed by cases based on race, national origin, sex, familial status
Fair housing complaints mount amid HUD staffing cuts Read More »
Key Insight: The CFPB has enough money to operate through Dec. 31st, but the Justice Department filed a motion about a “potential lapse in appropriations.” Supporting Data: The government is relying on claims by the Office of Legal Counsel that the central bank lacks “combined earnings” to fund the CFPB, as required by the Dodd-Frank
DOJ: CFPB cannot request new funding from the Fed Read More »
President Donald Trump downplayed criticism of the potential creation of a 50-year mortgage product, saying it would help more Americans afford monthly payments on homes. “It’s not even a big deal,” Trump said in an interview with Fox News that aired on Monday. “All it means is you pay less per month. You pay it
Trump defends 50-year mortgage plan, calling it ‘not a big deal’ Read More »
Fannie Mae on Friday announced the promotion of two long-time employees to lead its Single-Family business and general counsel’s office. “We are pleased to announce the promotion of Fannie Mae seasoned veterans Jake Williamson to acting head of single-family and Tom Klein to acting general counsel. These highly respected leaders will help lead the company
Fannie Mae names new head of single family and acting general counsel Read More »
New York Attorney General Letitia James pleaded not guilty on Friday to criminal charges that she committed bank fraud and made false statements to a lender when she bought a house in Norfolk, Virginia, five years ago. James is contesting charges brought earlier this month by a prosecutor whom President Donald Trump abruptly installed after her predecessor
NY Attorney General James pleads not guilty to US charges Read More »