RT @ryanjtracy: Tonight in @CapitolAccount: When @russvought surrendered on the CFPB's open banking rule, he took a 180-degree turn on a f….

RT @ryanjtracy: Small businesses “buried” in paperwork. A trade group reports compliance costs are “financially ruinous.” 2 federal judges….

Latest Q&A: @mansourtarek_, whose Kalshi platform is prompting court battles, raising novel policy questions, and drawing opposition from casinos and even MLB. He still sees it as a better mousetrap. Subscribers get the full talk but here’s a free excerpt:

@AmericaInvests Details on the trade groups' perks and more, for subscribers. Plus coverage of yesterday's NCUA firings and OCC reorg: .

@AmericaInvests A couple notes on the data: .- They are from the most recent publicly available 990 filings, which means either 2022 or 2023 (thanks to some vagaries of the groups' fiscal years).- We excluded @ConsumerBanker b/c their year included a leadership transition.

Running a financial trade group isn't easy. But don't feel to badly for their CEOs. They're well compensated. Here's Capitol Account's annual salary survey of association leaders. @AmericaInvests' Drew Maloney tops the heap.

NEW: Our exit interview with Acting SEC Chief Mark Uyeda on he and @HesterPeirce's coordinated policy push, what it's like to work with DOGE, and what's next at the agency

Trump has all his FinReg leaders save one: FDIC. The delay is a bit of a mystery, but a perceived horse race has captivated Washington’s financial regulatory community: Acting FDIC Chairman Travis Hill and Acting Comptroller Rodney Hood. Our breakdown:.

Last night: Banks Tread Carefully on Stablecoins

ICYMI from Monday: Fired at Will: A New Normal for Regulatory Commissioner?

@paoloardoino

@paoloardoino Cap Account subscribers got a breakdown of the Tether debate, and how it is playing out in what might end up being the most consequential digital assets legislation Congress has passed to date.

@paoloardoino Republicans like that argument… but they also say they want to make the U.S. the primary home for US dollar stablecoins. Tether’s competitors are (quietly) deeply concerned that that won’t happen if USDT can avoid all the new US rules but still be sold here.

Tether CEO @paoloardoino hadn’t even been to America before this month. He’s been to DC twice in March, and been touring the financial press as well, with a Trump-tailored message. Tether = “the best ally for the United States for dollar hegemony.”.

Tether, well aware of the controversy, is ramping up a media and lobbying campaign. Tether ads are hard to miss around DC. The firm recently hired Jeff Miller, a lobbyist known for connections with House Rs….

Tether issues USDT, the world’s most popular stablecoin…and it’s not based in America. How to handle that? Lawmakers aren’t agreed. The Senate bill wouldn’t impose the same safety and soundness rules as US-based coins. The House-backed bill seeks to do so.

Last night: The big crypto industry player emerging as a tricky obstacle to consensus on the fast-moving stablecoin legislation. Tether. 🧵.

How are FinTech firms grappling with the good and the uncertain in the new Washington? We sat down with @pennyleedc of @fintechassoc to talk about CFPB Chaos, Trump 2.0, and what "fintech" really means. Weekly Q&A here! .

Small lenders are building a grassroots pushback, too - and they’re confident the popular program will survive. It’s been targeted since its inception in the Clinton administration. A rundown in tonight’s edition:

Bessent’s office wasn’t told about the EO before it happened, sources tell us, and his public statement this week makes it clear he’s not readily supporting a wind-down of the fund.