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      How Consumers Can Protect Themselves With the CFPB on Pause

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      Rules on bank and credit card fees, medical debt and payment apps are in limbo. One thing you can do is carefully check your financial statements, one expert says.With the government seemingly stepping back from regulatory duties, consumers may have to act as their own financial watchdogs.The Consumer Financial Protection Bureau, the independent federal agency created after the 2008 financial crisis to shield people from fraud and abuse by lenders and financial firms, has been muzzled, at least temporarily.“Everything is on pause right now,” said Delicia Hand, senior director of digital marketplace with Consumer Reports. “So it’s back on consumers to be extra diligent.” Ms. Hand previously spent nearly a decade in a variety of roles at the Consumer Financial Protection Bureau, including overseeing complaints and consumer education, before departing in 2022.In early February, the Trump administration ordered the consumer bureau to mostly cease operations. It closed its Washington headquarters, fired some employees and put most of the rest of the staff on administrative leave, and opted not to seek funding for its activities. Several lawsuits are challenging the administration’s actions. On Feb. 14, a federal judge in Washington ordered the bureau to halt firing workers and not to delete data, pending a hearing scheduled for Monday.The administration, however, has already dialed back enforcement — dropping, for instance, a suit accusing an online lender of promoting free loans that actually carried high interest rates. On Thursday, the bureau dismissed a lawsuit that it had brought in January accusing Capital One of cheating customers out of some $2 billion in interest.It’s a stark change for an agency that had been energetic in adopting rules and filing lawsuits aimed at aiding consumers. Under the Biden administration, the bureau moved to reduce or eliminate various fees charged by banks and other financial firms and to remove unpaid medical debt from credit reports, and it fined a major credit reporting bureau for misleading consumers about credit freezes.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Paramount’s Shari Redstone Wants a Resolution on President Trump Lawsuit Ahead of Skydance Merger

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      Redstone, who controls Paramount, has been trying to close a merger with the Hollywood studio Skydance. President Trump’s lawsuit against CBS News is complicating matters.Shari Redstone, the controlling shareholder of the entertainment giant Paramount, delivered a crucial message to her board a few weeks ago.For months, Paramount’s lawyers had been jousting with representatives for President Trump, who had sued the company’s CBS News network over its segment on former Vice President Kamala Harris. Mr. Trump accused the network of deceptively editing the interview; CBS said Trump’s lawsuit was without merit.But when the board gathered this month, Ms. Redstone was clear: She was in favor of resolving the issue, two people familiar with the matter told DealBook’s Lauren Hirsch and The New York Times’s Ben Mullin.As Paramount executives weighed the best course of action, Ms. Redstone said she was in favor of moving forward in a way that would lead to some form of conclusion, including mediation.It was the first time that Ms. Redstone made her wishes known to the full board. Many at CBS News and “60 Minutes,” where Ms. Harris’s interview aired, strongly opposed a settlement.Further complicating the matter: The Federal Communications Commission is reviewing Paramount’s pending deal with Skydance. Some executives said that a settlement would smooth the way to closing the merger, even as others worried that a settlement could be interpreted as bribery for the F.C.C. to clear the Skydance deal. Mr. Trump, for his part, told reporters on Wednesday that the two were not linked.National Amusements, Paramount’s parent company, declined to comment, and Paramount has said that its legal battle with Mr. Trump is unrelated to its deal with Skydance.Ms. Redstone’s carefully written statement did not mention Paramount’s deal with Skydance — but it did underscore the fact that a pending multibillion-dollar lawsuit from the president made it difficult for Paramount to do business. She also said that she was removing herself from day-to-day discussions about the lawsuit.This week, The Times reported that Paramount had agreed to bring in a mediator.Any settlement could be perceived as the latest corporate concession to the White House, including Disney’s $15 million settlement in December and Meta’s $25 million settlement last month. The possibility of a settlement, which is likely to further embolden Mr. Trump’s crusade against the media, has been met with a strong backlash within the CBS ranks and outside the company.Though Ms. Redstone didn’t mention the Skydance deal in her remarks, people familiar with her thinking believe she’s focused on closing the deal.Paramount is also navigating the consequences of doing business under a retributive president. Beyond the Skydance deal, Mr. Trump has made clear his willingness to exact revenge when it comes to companies.“Corporations — particularly these days are often in the cross hairs of policymakers — and they have to navigate that,” Jill Fisch, a professor at the University of Pennsylvania Law School, told DealBook. “And that’s not easy.” More

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      Number of Trans Troops Far Lower Than Estimated, Pentagon Figures Show

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      The Defense Department said 4,240 service members, or about 0.2 percent of those in uniform, have a diagnosis of gender dysphoria. Previous estimates had put the number at triple that figure.The military released on Thursday the number of transgender troops currently serving in the armed forces, revealing a population much smaller than recent estimates. Currently, according to those figures, 4,240 people in the military — about 0.2 percent of the 2 million people in uniform — have a diagnosis of gender dysphoria.That diagnosis is the best way the military has of tracking the number of trans troops in the force. Previous estimates usually put the number of trans troops at about 15,000.The Trump administration has implemented new policies that bar trans troops from serving, citing disruption in the ranks and the cost of medical care as primary reasons. President Trump has characterized the cost of providing care as “tremendous.” And in an executive order last month, the administration asserted that being transgender “conflicts with a soldier’s commitment to an honorable, truthful and disciplined lifestyle.”The military also released for the first time figures on the cost of providing gender-affirming medical care for trans troops. They show that since 2015, when trans troops were first allowed to serve openly, the military has spent $52 million on their care, including psychotherapy, hormone therapy and surgery, or about $9,000 per trans service member. The total is a fraction of the $17 billion annual budget for the Defense Department’s health agency.The Defense Department data shows that about half of the troops diagnosed with gender dysphoria required no medical care at all. About a quarter required surgery.For years, the military insisted that it had no way of tracking figures related to transgender troops. The Pentagon released the numbers after a federal judge ordered the Defense Department on Thursday to provide data on trans service members, ruling in a lawsuit filed by a group of trans service members who challenged the Trump policies barring them. More

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      S.E.C. Declares Memecoins Are Not Subject to Oversight

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      The agency said the novelty digital assets were not securities, a month after President Trump issued his own memecoin.The Securities and Exchange Commission said on Thursday that so-called memecoins — novelty digital assets — are not subject to regulatory oversight because they are not considered securities.The determination could have big ramifications for the crypto industry and President Trump, who issued his own memecoin days before his inauguration.The S.E.C.’s policy on memecoins is consistent with the light regulatory approach that Mr. Trump promised to take toward the crypto industry during his campaign.Mr. Trump and his family firmly embraced digital currencies last year by teaming up with a new digital assets company, World Liberty Financial. The memecoin the president introduced during pre-inaugural festivities in January, called $Trump, spurred controversy because it swung wildly in value and generated hefty trading fees for Mr. Trump.The S.E.C.’s policy statement did not refer to Mr. Trump’s memecoin or any other specific digital novelty item. But the commission clearly acknowledged the risk to investors who put money into such products, even as it said it would not regulate them.“Although the offer and sale of memecoins may not be subject to the federal securities laws, fraudulent conduct related to the offer and sale of memecoins may be subject to enforcement action or prosecution by other federal or state agencies,” said the statement, from the S.E.C.’s division of corporation finance.In reaching its conclusion, the S.E.C. employed a nearly century-old Supreme Court decision to determine that a memecoin should not be considered an investment contract and therefore subject to regulatory oversight.Under Gary Gensler, who served as S.E.C. chair under President Joseph R. Biden Jr., the regulator had used that same Supreme Court case to argue that most digital assets are securities and subject to regulation.The S.E.C., apparently worried that traders and speculators could use its rationale to evade regulation, said it would look closely at any new product that tried to label itself a “memecoin.”The agency has moved quickly to dismantle the aggressive approach taken by Mr. Gensler in regulating cryptocurrencies. His enforcement actions angered the crypto industry and led many of its investors to contribute mightily to the campaign of Mr. Trump, who at one time was a crypto critic.Also on Thursday, the S.E.C. officially moved to dismiss its enforcement lawsuit against Coinbase, one of the nation’s largest crypto firms. The S.E.C. also has told a number of crypto companies that it was ending investigations into their activities.The S.E.C. also said in a court filing this week that it was trying to reach a settlement in a civil fraud case it filed against Justin Sun, a crypto investor. Mr. Sun also is an adviser to World Liberty and a significant investor in its digital token. The charges against him do not involve his investment with World Liberty. More

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      Stunned U.S.A.I.D. Workers Return to Clean Out Their Desks

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      Democrats said a review mandated by executive order was “not a serious effort or attempt at reform.”Workers for the U.S. Agency for International Development who had been fired or placed on leave returned to their offices on Thursday to retrieve personal belongings, many still dumbfounded by the Trump administration’s sudden dismantlement of the 63-year-old aid delivery agency.Hundreds of workers who just one month ago never imagined that they would soon lose their jobs en masse returned to the Ronald Reagan Building and International Trade Center in downtown Washington.They were given just 15 minutes each to clear out their old desks.The somber return came a day after the Trump administration revealed in court documents that it had completed a review of all U.S. foreign aid programs and was canceling nearly 10,000 contracts and grants, eliminating about 90 percent of U.S.A.I.D.’s work.The agency’s annual budget of about $40 billion pays for the distribution of food and medicine, as well as disaster relief, disease monitoring, development work, and pro-democracy and civil society programs. Its work has been heavily concentrated in poor and developing countries in Africa and Asia.Foreign aid makes up less than 1 percent of the federal budget.Supporters offered boxes and packing supplies to help fired U.S.A.I.D. workers clean out their desks on Thursday. Anna Rose Layden for The New York TimesIn a joint statement, Democrats on the Senate Foreign Relations Committee denounced the canceled funding, calling the foreign aid review — mandated by an executive order President Trump signed shortly after taking office last month — “not a serious effort or attempt at reform but rather a pretext to dismantle decades of U.S. investment that makes America safer, stronger and more prosperous.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Says Canada and Mexico Tariffs Will Go Into Effect Next Week

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      Tariffs on imports from Canada and Mexico would go into effect on March 4 “as scheduled,” President Trump said on Thursday morning, claiming that those countries were still not doing enough to stop the flow of drugs into the United States.China will also face an additional 10 percent tariff next week, on top of the 10 percent he imposed earlier this month, the president wrote in a post on Truth Social.“Drugs are still pouring into our Country from Mexico and Canada at very high and unacceptable levels,” he said. “A large percentage of these Drugs, much of them in the form of Fentanyl, are made in, and supplied by, China.” He added that the levies were necessary until the flow of drugs “stops, or is seriously limited.”In an effort to stem the flow of migrants and drugs, Mr. Trump threatened to impose tariffs on all products from Canada, Mexico and China in early February. But after Mexico and Canada promised measures like sending more troops to the border and, in the case of Canada, appointing a “fentanyl czar,” Mr. Trump paused their tariffs for one month.He moved ahead with imposing a 10 percent tariff on all products from China, on top of those already in place, which prompted China to retaliate with its own tariffs on American goods.The post Thursday appeared to be an attempt by Mr. Trump to clarify his plans, after his remarks at the White House on Wednesday sowed confusion about whether the tariffs had been delayed.When asked about tariffs on Canada and Mexico on Wednesday, Mr. Trump said that they would proceed — but mentioned April 2, which is when he has said another batch of tariffs on various countries, which he has called reciprocal tariffs, would go into effect.Some investors interpreted those remarks as a sign the president meant to continue delaying the tariffs related to drugs and migrants, and the value of the peso and the Canadian dollar increased. But a White House official on Wednesday clarified that the April 2 date referred to other tariffs, not those on Canada and Mexico.“The April Second Reciprocal Tariff date will remain in full force and effect,” Mr. Trump wrote Thursday. More

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      Pro-Russia Politicians in Ukraine, Inspired by Trump and Putin, See an Opening

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      From prison and from exile, supporters of Moscow have been ramping up social media posts aimed at backing Russia’s call for elections in Ukraine and slamming President Volodymyr Zelensky.Three years ago, support for members of a Ukrainian political party that advocated closer ties with President Vladimir V. Putin of Russia plunged to near zero after Russian forces invaded Ukraine, flattening whole cities and killing tens of thousands of Ukrainians.The party, called the Opposition Platform for Life, was banned, some members went to jail on charges of treason, and others fled Ukraine. A few former members banded together in a new faction and still sit in Parliament, but have generally kept quiet since the Russian invasion.Now some of those pro-Russian politicians are attempting an unlikely comeback, inspired by President Trump’s attacks on Ukraine’s current leadership and Russian demands, echoed by Mr. Trump, that the country hold elections.The politicians are posting widely viewed videos on social media in which they have promoted themselves as future candidates; criticized President Volodymyr Zelensky and his government; and praised Mr. Trump.The efforts are unlikely to gain much traction in a country that remains overwhelmingly hostile to Russia and the people who have supported it. But analysts say the videos, which are rife with misinformation, could nonetheless stoke divisions at a time when Ukraine’s unity and its leaders are under threat from a hostile Mr. Trump.Oleksandr Dubinsky, a former member of Parliament, has produced videos promoting what he calls a pro-Trump and pro-peace agenda from prison, where is he serving time for treason. His videos place blame Ukraine’s leaders for the war, saying they are committing genocide against the Ukrainian people, an echo of Russian propaganda.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Chief Justice Allows U.S. to Continue Freeze on Foreign Aid Payments

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      Chief Justice John G. Roberts Jr. on Wednesday night handed the Trump administration a victory for now in saying that the U.S. Agency for International Development and the State Department did not need to immediately pay for more than $1.5 billion in already completed aid work.A federal judge had set a midnight deadline for the agencies to release funds for the foreign aid work. The Trump administration, in an emergency appeal to the Supreme Court just hours before the deadline, said the judge had overstepped his authority and interfered with the president’s obligations to “make appropriate judgments about foreign aid.”Chief Justice Roberts, acting on his own, issued an “administrative stay,” an interim measure meant to preserve the status quo while the justices consider the matter in a more deliberate fashion. The chief justice ordered the challengers to file a response to the application on Friday, and the court is likely to act not long after.In another aggressive move on Wednesday to carry out President Trump’s Day 1 directive to gut U.S. spending overseas, lawyers for the Trump administration said that it was ending nearly 10,000 U.S. Agency for International Development and State Department contracts and grants.The administration actions stunned diplomats and aid workers already reeling from mass firings at U.S.A.I.D., which funds food, health, development and democracy programs abroad, and which the Trump administration has systematically dismantled. A former senior U.S.A.I.D. official said the cuts account for about 90 percent of the agency’s work and tens of billions of dollars in spending.The signage for U.S.A.I.D. in Washington, which has been covered up with tape, seen on Tuesday.Jason Andrew for The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More