The Federal Reserve, FDIC and Office of the Comptroller of the Currency released details on their upcoming stress test scenarios for large financial institutions. In the case of the Fed, 32 banks will be tested against a severe global recession with heightened stress in both commercial and residential real estate markets, as well as in corporate debt markets. The FDIC and OCC stress tests include baseline and severely adverse scenarios for covered institutions
Trump administration halts CFPB funding, activities
The new acting director of the CFPB has told the Federal Reserve to halt funding for the bureau and ordered staff to pause all activities. The announcement came after Elon Musk on X suggested the CFPB would be...