Trump administration

Luke Pettit, a Senate Banking Committee staffer, will serve as the Treasury Department's next assistant secretary of financial institutions.

President Trump and his lieutenants have been bullying Federal Reserve Chair Jerome Powell for months over the Fed's reluctance to lower interest rates. But even if that campaign is successful, the president may not really get what he wants.

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.

A district court judge this week has denied allowing four groups — the American Fintech Council, Financial Data and Technology Association, Financial Health Network and Public Citizen — to file legal briefs in support of a rule on financial data rights.

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 new trade levies are changing the way businesses import and export goods and how they finance their transactions. HSBC's Marissa Adams, Europe and Americas Regional Head of Global Trade Solutions, discusses what's next.

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.