This is still one of the best accounts I've read on what it feels like to get stuck in a #paydayloan app #debttrap. thebaffler.com/salvos/paid-p… @NCLC4consumers @CRLONLINE @danielkolitz

@RepSylviaGarcia: #HR1653 "will tip off wrongdoers." Thank you! #DefendCFPB

#𝐇𝐑𝟕𝟖𝟔𝟔 𝐢𝐬 𝐚𝐧 𝐚𝐧𝐭𝐢-𝐚𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐛𝐢𝐥𝐥. It undermines state interest rate protections, helps high-cost lenders impose triple-digit rates, and adds thousands of dollars to the annual cost of borrowing. Congress must vote NO. #StopTheDebtTrap

Thanks for raising concerns about this unprecedented change in activities permitted for national banks.

The solution to the regulatory gray zones around #BaaS, let alone problems like #Synapse that occurred within them, will not be found by granting the space more privileges. Light touch #fintech #KYC facilitates #scams. bit.ly/43h4qZo

If regulators grant banking #charters to 10 #fintechs, and 3 fail within 3 years, is that a net positive? Or 2, or 4? That is the question. How much risk is acceptable?

Except the fixed Cole Ragans. And developed Kris Bubic and Noah Cameron. Didn't interfere with Brady Singer. Pitching is hard. Every team struggles. Prospects are never sure things.

Literally, I have heard from banks that they are scared about having an #SPCP, or even not calling in existing loans. For opponents of "regulatory overreach," the #CFPB's radical #ECOA final rule is a prime example of a regulator telling banks how to lend. consumerfed.org/press_releas…

So, OpenAI is buying a personal financial management tool (#pfm). Wouldn't it be nice if there were a rule giving people personal #financial data rights? Like a #cfpb #Section1033 rule? pymnts.com/acquisitions/2026…

D

To the @WhiteHouse claim that the #CFPB costs consumers billions... the cost of regulation is: your car comes with brakes, those brakes meet safety standards, someone inspects them, and car companies pay a price when they manufacture dangerous vehicles. @consumerfed

If the White House's critique is that the #CFPB costs consumers money, why has it reversed $19 billion in CFPB-granted relief for consumers this year?

The #Bitsika card perfectly illustrates how some #fintechs and their partner banks see KYC evasion as a product differentiator. They add risk across the #payments ecosystem. bitsika.com/

Yesterday, @SenWarren @SenatorDurbin @ChrisVanHollen @RepPressley @RepCasten stood with advocacy groups & the @NTEUnion to #DefendCFPB. They know Congress represents people, not billionaires. Thank you for your leadership for the #CFPB. @BorrowerJustice @RealBankReform

I have a new paper out today calling for greater linkage b/w BSA work against #IllicitFinance & #ConsumerProtection enforcement efforts to fight #scams. This is an opportunity for victims to receive redress. Do you know about funnel accounts? Learn more by reading my paper!

@SheilaBair2013 comments in the @FT: US banks need to cut their #creditcard interest rates. Ms. Bair prefers a cap at FFR + 10 percent, an amount consistent with historical market norms. ft.com/content/0d01fcbb-4d47…

Salvy

About to enjoy the @ncbudgetandtax Economy For All Summit .ncbudget.org/econ4all?snw=2&…

Thanks, Wade!