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In 2022, Meta's internal documents found 70% of newly active advertisers on its platform promote #scams, illicit goods, or “low-quality” products. wsj.com/tech/meta-frau…

The #reconciliation bill threatens #healthcare coverage for thirty-four thousand people in Colorado's 8th Congressional District. @RepGabeEvans cbpp.org/research/healt…

By taking away a large share of the #SNAP benefits upon which many grocery stores rely for revenue, the #reconciliation bill creates food deserts. It will make America less healthy, reduce jobs in every community, and increase #hunger. cnn.com/2025/05/21/pol…

If the #reconciliation bill passes, more than 3,000 people in Congressman Tim Moore's district will lose clean energy jobs. The impact will devastate working-class households relying on the green economy to feed their families. americanprogress.org/article/the-de…

#Debanking isn't new. It has been known by a different name - #redlining - for a long time. Reversing the #CFPB's #Townstone decision sends a message that #debanking is acceptable.

This seems like old times. The FDIC issued a consent order to #BaaS provider Quaint Oak Bank, as revealed in a May 15 investor filing, for BSA/AML compliance. sec.gov/Archives/edgar…

From Seth Frotman & Jeremy Kress in Democracy Journal: "When progressives are returned to power, they will face a choice: fight to restore a broken system that never worked for working people, or learn to use the centralized power Trump created." democracyjournal.org/arguments/dont…

The House #reconciliation bill reverses a Biden-era bipartisan policy closing a loophole in the Dept. of Ed's 90/10 rule. Before 2022, "90/10" incentivized predatory colleges to exploit #veterans. #Military groups are upset with the bill text. bit.ly/4e0OBdZ

Consumers brace for steeper bills and lower credit scores from Trump's financial deregulation nbcnews.com/business/perso… via @nbcnews

Unspent customer funds held by Starbucks exceed deposits held by 3,900 banks. They want to do bank-like things (hold deposits, facilitate payments) but avoid regulation.

In yday's #Townstone decision:“Now, current CFPB leadership under the second Trump administration, in an act of legal hara-kiri that would make a samurai blush, falls on the proverbial sword and attests that the lawsuit lacked a legal or factual basis.” bankingdive.com/news/judge-rej…

Parliamentarian nixes key pieces of Tim Scott’s megabill proposal politico.com/live-updates/2… via POLITICO

The #BigBrutalBill sets up future generations to pay for short-term pro-billionaire #taxcuts. Someday the bill will come due. At what point in time does the scale of tax obligations become so great that it challenges the value prop of a 401(k)? It's a slow-motion train wreck. OMO

Once again, the new Trump-era #CFPB is siding with law breakers at consumers' expense. The #NavyFederal consent order called for $80.6 million to go to harmed consumers for unfair #overdraft policies. consumerfinance.gov/enforcement/ac…

It doesn't square when the #CFPB gives a free pass to #NavyFederal for charging illegal #overdraft fees AND claims it cares about #servicemembers. The order called for $80.6 million in redress. How many millions did this CFPB just take from servicemembers? bit.ly/3I758kK

Historically, the public could review #bank #charter applications made to the OCC. But for now, all outstanding apps are missing. apps.occ.gov/CAAS_CATS/Defa… They are all for payment or #crypto charters.

Auto loan delinquencies (90 days + past due) have increased for seven consecutive quarters. It's the wrong direction for a leading indicator to be heading. ycharts.com/indicators/us_…

There's something inconsistent about dropping supervision of #paymentapps and then leaving an opening for banks to charge tolls to fintechs.

The #CFPB #Section1033 rule prevented banks from charging #openbanking data sharing fees. If banks can charge punitive fees, it protects credit card interchange and thwarts #PayByBank. Story here: #deregulation is threatening financial innovation.

If your hometown has a #CommunityDevelopmentFinancialInstitution, you appreciate the value they bring. #CDFIs deploy capital to difficult projects. The American Access to Banking Act encourages more #DeNovo CDFIs & minority depository institutions (#MDI). bit.ly/4lDA0If