The Trump administration is quietly killing a program that gives money to banks to lend within their communities🧵

Speaking of @Pulte and Powell, Got a chance to ask Elizabeth Warren this Am about it. She said the FHFA chief is making the US a "laughingstock" and advised him to "keep his thumbs in his pocket." Here's the full quote take (which came before Colby's reporting below):

Concerning.

Right on cue, Trump Jr. weighs in on open banking... x.com/DonaldJTrumpJr…

The CFPB has backpedaled on the open banking rule. Instead of fully surrendering to banks in the ongoing litigation, the bureau now wants to pause the suit and instead do an "accelerated rulemaking." Good for fintech/crypto, bad for banks. CFPB filing today:

I did not have the good fortune of working with Mary Cummings de Wet, the managing editor of American Banker, formerly of The Wall Street Journal and Dow Jones. But I mourn her all-too-early passing earlier this week. And I salute her excellent and moving final piece of writing--her own obituary.