Money

76 articles

Economy, markets, debt, jobs, the Fed, and business

Trump EO Routes Immigration Enforcement Through the Bank Secrecy Act and CFPB Ability-to-Repay Rules

The May 19 executive order "Restoring Integrity to America's Financial System" gives Treasury 60 days to issue an Advisory naming ITIN-funded accounts as a Bank Secrecy Act red flag, 90 days to propose BSA rules letting banks ask about "lawful immigration status," and 180 days to consider restrictions on foreign consular ID cards. It also directs CFPB, within 60 days, to write deportation risk into the ability-to-repay framework that governs credit-card underwriting.

Money4d ago

FOMC Minutes Show Four-Way Split at Powell's Final Meeting, Warsh Inherits Divided Committee

Minutes released May 20 from the Federal Reserve's April 28-29 meeting — Jerome Powell's last as chair — show an 8-4 vote to hold rates at 3.5–3.75%, with four dissents pulling in opposite directions. One governor sought an immediate cut while three regional bank presidents opposed even the statement's hint of future easing, a fracture Kevin Warsh will face at his first FOMC meeting June 16-17.

Money5d ago

HHS-OIG: 79% of Medicare Part D Enrollees Are in Vertically Integrated Plans and Pay ~40% More Out of Pocket Without Financial Assistance

A May 15 HHS Office of Inspector General data snapshot finds that 11 vertically integrated organizations — sponsors that also own a pharmacy benefit manager — covered 79% of Medicare Part D's 54.6 million enrollees in 2023, and that enrollees without financial assistance paid nearly 40% more in out-of-pocket drug costs than enrollees in non-integrated plans, despite paying lower monthly premiums.

MoneyMay 18

Senate Confirms Warsh as Federal Reserve Chair, 54-45, in Closest Vote of Modern Era

The Senate voted 54-45 on May 13 to confirm Kevin Warsh as Federal Reserve chairman, with Sen. John Fetterman the only Democrat to cross party lines. The confirmation triggers a 90-day divestiture clock on Warsh's private fund holdings, with the deadline falling around August 11, and sets up the first FOMC meeting of his tenure for June 16-17.

MoneyMay 11

Senate Banking Committee Advances Warsh for Fed Chair in First Fully Partisan Vote

Kevin Warsh cleared the Senate Banking Committee 13-11 on April 29 after a contentious hearing where he pledged a regime change in monetary policy and declined to disclose the underlying holdings of more than $100 million in investments, some of which include stakes in regulated banks.

Lutnick Tells Congress Trump's 'Gold Card' Visa Has Approved One Applicant — Thirteen Months After Claiming He Sold 1,000 in a Day

Commerce Secretary Howard Lutnick told a House appropriations subcommittee on Thursday that the administration's $1 million Gold Card visa has been approved for one person since applications opened in December. In March 2025, he told the All-In podcast he had 'sold 1,000' of the cards at $5 million each — a claim valued at the time at $5 billion in a single day.

Money

Trump EO Routes Immigration Enforcement Through the Bank Secrecy Act and CFPB Ability-to-Repay Rules

FOMC Minutes Show Four-Way Split at Powell's Final Meeting, Warsh Inherits Divided Committee

HHS-OIG: 79% of Medicare Part D Enrollees Are in Vertically Integrated Plans and Pay ~40% More Out of Pocket Without Financial Assistance

Senate Confirms Warsh as Federal Reserve Chair, 54-45, in Closest Vote of Modern Era

Senate Banking Committee Advances Warsh for Fed Chair in First Fully Partisan Vote

Lutnick Tells Congress Trump's 'Gold Card' Visa Has Approved One Applicant — Thirteen Months After Claiming He Sold 1,000 in a Day

DOJ Moves FDA-Approved and State-Licensed Medical Marijuana to Schedule III, Sets June 29 Hearing on Broader Reclassification

DOJ Charges Fort Bragg Soldier With Turning $33,034 Into $409,881 on Polymarket Using Classified Intel on the Operation That Captured Maduro

Trump Invokes Defense Production Act Across Oil, Gas, Coal, LNG, and the Grid in Five Simultaneous Determinations

Trump Administration Nears $500M Spirit Airlines Rescue With Warrants for Up to 90% Equity, as His Transportation Secretary Resists

DOJ Indicts Fourteen in Permian Basin Oil-Theft Conspiracy: Crude Stolen From New Mexico Producers, Stored on Federal Land, Sold Below WTI

Justin Sun Sues Trump Family's World Liberty Financial, Alleges Secret 'Blacklist' Backdoor Froze His $1B in Tokens