News
"Leading House Republicans on banking issues called on the Federal Deposit Insurance Corp. to withdraw its brokered deposit proposal, previewing part of the GOP's bank regulatory agenda in the next Congress.
Reps. Andy Barr, R-Ky., and French Hill, R-Ark., both leading contenders to be the chairman of the House Financial Services Committee next year, asked that FDIC Chair Martin Gruenberg abandon the brokered deposit rulemaking, which would reverse a more bank-friendly rule issued during the first Trump administration."
"Senator John Cornyn (R-Texas) will be a part of the newly-formed Senate DOGE Caucus, designed to find and eliminate governmental waste.
The caucus, led by Sen. Joni Ernst (R-Iowa), will work with the Trump administration's Department of Government Efficiency, which is helmed by Elon Musk and Vivek Ramaswamy."
"Scott Bessent spent the past 40 years studying economic history. Now, as Donald Trump's choice to lead the Treasury Department, he has the chance to make his mark on it.
As a hedge-fund manager, first at George Soros's firm and later at his own, Bessent specialized in macroinvesting, or analyzing geopolitical situations and economic data to wager on big-picture market moves. He generated billions of dollars in profits betting on and against currencies, interest rates, stocks and other asset classes around the world."
"President-elect Trump announced his nomination of former NFL star Scott Turner for Secretary of the Department of Housing and Urban Development on Friday.
'I am pleased to nominate Scott Turner, from the Great State of Texas, as the Secretary of the United States Department of Housing and Urban Development (HUD),' Trump wrote in a press release."
"Russell Vought, a prominent contributor to the Heritage Foundation's Project 2025, will return as director of the Office of Management and Budget in Donald Trump's second administration, the president-elect announced Friday.
Vought will lead the powerful office tasked with reviewing federal regulations and developing the president's budget, Trump said in a post on his social media platform."
"Good afternoon. It's an honor to welcome President Clinton to Treasury today to mark the recent 30th anniversary of the establishment of the Community Development Financial Institutions Fund...
...The CDFI Fund has been a key part of this story. Since its establishment and across both Democratic and Republican administrations, it has provided more than $8 billion to CDFIs and mission-driven lenders and $81 billion in tax credits to community development entities. In 2023, it awarded more assistance than in any other year in its history. And one analysis finds that every dollar the CDFI Fund invests catalyzes at least eight more dollars in private sector investment."
"Federal Deposit Insurance Corp. Chairman Martin Gruenberg — the agency's longest serving board member — said Tuesday that he would retire from the agency in January.
In an email sent to staff, Gruenberg said he had given President Biden notice that he plans to retire as chairman and member of the board of directors of the FDIC effective Jan. 19, the day before President-elect Donald Trump is sworn in."
"Former President Bill Clinton will return to the U.S. Treasury Department for the first time in nearly 25 years on Thursday to mark the 30th anniversary of a community lending fund launched during his presidency but which could be put at risk by President-elect Donald Trump's new government efficiency body.
The Treasury Department said that Clinton will join Yellen in a program to underscore the importance of the Community Development Financial Institutions Fund in supporting small businesses and families in minority and underserved communities. The fund was launched in 1994. Yellen became chair of Clinton's Council of Economic Advisers in 1997."
"President Joe Biden is requesting nearly $100 billion in emergency disaster aid after Hurricanes Helene and Milton, and other natural disasters, telling lawmakers that the money is 'urgently needed.'
The letter Monday to House Speaker Mike Johnson comes as lawmakers meet during a lame-duck session to finish key priorities before making way for a new Congress and the incoming Trump administration. Biden said he has met firsthand with those harmed by the storms and he heard what residents and businesses needed from the federal government."
"House Republicans vying to chair the Financial Services Committee are ramping up their campaigns to win over key GOP powerbrokers. MM has a sneak peek at the pitches (and related apparel) from two top contenders, Reps. Andy Barr and French Hill, who are trying to tie their proposed agendas to President-elect Donald Trump."