The White House plans to nominate Jonathan McKernan, a former member of the Federal Deposit Insurance Corporation, as full-time director of the Consumer Financial Protection Bureau, according to two sources familiar with the matter.

Tech billionaire Elon Musk, who has been tapped by President Donald Trump to lead federal cost-cutting efforts, said Tuesday that the United States would go "bankrupt" without budget cuts.

Elon Musk is in the Oval Office with President Donald Trump as Trump signs a new set of executive orders Tuesday afternoon. Musk will be with Trump as he signs new executive orders that are aimed as solidifying Department of Government Efficiency's ability to do its job.

The White House blocked an Associated Press reporter from an event in the Oval Office on Tuesday after demanding the news agency alter its style on the Gulf of Mexico, which President Trump has ordered renamed the Gulf of America.

The wire service said the decision stemmed from a style guidance to continue using the name Gulf of Mexico instead of Gulf of America.

An AP journalist was denied entry to the White House. Trump administration officials said the reporter was kept out because the news agency did not comply with Trump's order renaming the Gulf as the "Gulf of America.