A Mediterranean Shipping Co. container ship under construction at the HD Hyundai Heavy Industries Co. shipyard in Ulsan, South Korea, on March 30, 2025.SeongJoon Cho/Bloomberg President Donald Trump’s sweeping tariff proposals have been put on hold for another month, giving banks and industries more time to brace for impact while also prolonging the uncertainty that […]
Trump tariff extension leaves banks, Fed in limbo Read More »
Bloomberg News The Supreme Court’s ruling allowing President Trump to proceed with mass firings of federal employees does not directly affect the Consumer Financial Protection Bureau, according to the CFPB’s employee union, which is fighting workforce reductions at the agency in court. The CFPB’s union has a separate case pending before a panel of the
Supreme Court ruling won’t directly impact CFPB case Read More »
Up to 2 million Americans could see their Social Security payments reduced by 50% in late July as the Social Security Administration (SSA) is cutting payments to recoup the billions of dollars it overpaid to some Americans in recent years. In April, the SSA announced that it would begin recovering about $72 billion in improper
Are seniors getting reduced Social Security or a tax break? Read More »
The Trump administration’s “Big Beautiful Bill” may contain many initiatives lauded by the housing industry, but if you’re a federal regulator — namely the Consumer Financial Protection Bureau (CFPB) — you might have a different take. The multitrillion-dollar bill, which was passed by the U.S. Senate on Tuesday but still awaits approval from the House
The CFPB’s budget might be shrinking, but does that even matter? Read More »
Adobe Stock The Consumer Financial Protection Bureau has scrapped a $95 million settlement with Navy Federal Credit Union, freeing the nation’s largest credit union from paying a $15 million fine and from refunding $80 million to service members who were illegally overcharged overdraft fees. Acting CFPB Director Russell Vought on Monday terminated the consent order
CFPB drops Navy Federal’s $95 million overdraft settlement Read More »
President Donald Trump’s “Big Beautiful Bill” is headed back to the House for reconciliation after passing the Senate with a tiebreaking vote from Vice President JD Vance. The 1,116-page multitrillion-dollar bill contains some key changes for older Americans, including a senior bonus tax deduction that would offset taxes on Social Security. But the bill also
What’s in Trump’s ‘Big Beautiful Bill’ for seniors? Read More »
Senate Republicans on Tuesday advanced President Donald Trump’s sprawling “Big Beautiful Bill” in a last-second flurry that required Vice President JD Vance to cast a tie-breaking vote. All 47 Senate Democrats voted against the bill, with Republicans Susan Collins, retiring Thom Tillis and Libertarian deficit hawk Rand Paul joining them. The bill now goes back
Housing industry cheers Senate passage of the ‘Big Beautiful Bill’ Read More »
Frank Gargano Kyle Hauptman, the president of the National Credit Union Administration, voted to liquidate two troubled credit unions, a move that has raised procedural questions since Hauptman alone does not constitute a quorum of the NCUA board. On Tuesday, the NCUA placed Aldersgate Federal Credit Union — a $10.3-million asset credit union operated by
NCUA’s one-member board liquidates two failed credit unions Read More »
“We are looking at the opportunity to make the 2017 tax relief permanent,” said Senate Leader John Thune during a floor speech on Saturday. “We’re adding to the 2017 tax relief with new pro-growth provisions, like a provision to boost domestic manufacturing by implementing full expensing for new factories and factory improvements. Thanks to the pro-growth provisions
Budget resolution clears a hurdle, more to come Read More »
The U.S. Department of Housing and Urban Development (HUD) announced on Friday that Jonathan “Drew” McCall, Todd Thurman and Reid Wilson will serve in senior-level roles under the direction of Secretary Scott Turner. The appointments followed the swearing-in of Andrew Hughes, the former HUD chief of staff, as deputy secretary. Per the department, the new
HUD announces three senior leadership hires Read More »