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

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.

Historically, the public could review #bank #charter applications made to the @USOCC. But for now, all outstanding apps are missing. They are all for payment or #crypto charters.

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?

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.

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.

Parliamentarian nixes key pieces of Tim Scott’s megabill proposal via @politico.

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.”

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.

Consumers brace for steeper bills and lower credit scores from Trump's financial deregulation via @nbcnews.

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.

From @sethfrotman & @Jeremy_Kress in @DemJournal: "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."

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.

#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.

If the #reconciliation bill passes, more than 3,000 people in @RepTimMooreNC's district will lose clean energy jobs. The impact will devastate working-class households relying on the green economy to feed their families.

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.

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

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

An example of how #urbanplanners can design streets that endanger #bicyclists. Ironically, the purple sign touts #MorgantownWV as a #bicycle-friendly #city. #Planning #streetscape.

I'm thrilled that the federal government sent a refund to me after it discovered that @hrblock @BlockAdvisors miscalculated my return. I overpaid $518. Thank you @IRSnews.