Organization Root Tag

The Justice Department has opened a criminal investigation into Federal Reserve Gov. Lisa Cook and allegations of mortgage fraud, allegations that spurred President Trump to terminate her position on the Fed Board last week. Cook is challenging the president's authority to remove her in court.

A injunction blocked the service cuts that would have balanced SEPTA's budget. 

Controller Chris Hollins warned the city lacks sufficient reserves to deal with weather-related disasters in the face of reduced federal financial assistance.

Moody's revised Chicago's outlook to stable from positive and affirmed the city's Baa3 issuer and general obligation unlimited tax ratings.

"Ozi's focus on building lasting relationships and his prudent risk management make him well-suited for this leadership role," said Charles Peck, Wells Fargo's head of municipal products.

The Chicago Board of Education passed a balanced $10.26 billion budget that leaves the city government to pick up non-teacher pension contributions.

"As soon as you step back from the table, you may wind up on it," NABL's chief policy officer said.

Philadelphia's economy has been growing. But deep cuts Pennsylvania may impose on the regional public transportion system could have serious negative impacts.

The state will tap reserve funds, close tax loopholes and cut spending to address a more than $1 billion shortfall in its fiscal 2026 budget.

If the SEC grants exemptive relief to firms seeking to offer a multi-class structure, "we will see more ETFs of actively managed municipal bond strategies."