Trump

The Justice Department has asked the high court to intervene and halt reinstatements of federal employees who were fired by the Office of Personnel Management.

Treasury Secretary Scott Bessent and Trump's National Economic Council director, Kevin Hassett, are set to meet Tuesday with House and Senate Republican leaders and their top tax writers to try to resolve differences over the scale of cuts and ways of paying for them.

The largest U.S. bank will now call the initiative Diversity, Opportunity & Inclusion, or DOI, Chief Operating Officer Jenn Piepzak said in a memo to staff Friday.

The Consumer Financial Protection Bureau has rehired more than 100 fire employees, but the union claims dozens of employees have not been reinstated in violation of a federal court order.

Presidents have long rushed to take credit for booms and distanced themselves from busts. But Trump's situation is unusual. The risks to the U.S. economy — potentially including stagflation or even recession — are closely linked to his own flagship initiative: a new tariff bonanza due in just over two weeks.

The firings are the latest by the president to challenge a 90-year legal precedent that shields members of independent agencies, part of his administration's move to gain greater influence across the government.

Without citing examples, acting comptroller Rodney Hood expressed disgust at what he called the "debanking" of certain businesses.

The Treasury secretary pointed to figures from credit cards and banks as "very good underlying data."

President Donald Trump's executive order severely limiting the Treasury's Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.

It's been rare for a fintech to win regulatory approval to become a bank, with none receiving approval under President Joe Biden and only a few successfully obtaining charters before that.