Silicon Valley Bank required some clients to agree to exclusivity clauses, disabling them from diversifying where they held their money, SEC records show…
Biden Forced to Bail Out a Banking System — and His Donors — He Endangered…
Worse, this “Joe to the rescue” schtick is completely disingenuous. Biden’s dismal economic leadership got us here. He dumped trillions into an economy already running hot in 2021. When inflation headed for the stratosphere,..
Co-Author of the 2008 Dodd-Frank Banking Act Sat on the Board of Doomed Signature Bank…
Ultimate insider rigged the investment banking game by nullifying the Glass-Steagall Act replacing it with the Dodd-Frank Act which is directly tied to the Silicon Valley Bank and now Signature Bank’s collapse…
Donald Trump Gets the Last Laugh at Woke Bank That Closed His Account After the 2020 Election…
Trump has gotten the last laugh in his battle against a ‘Woke’ bank that closed his account in the aftermath of the 2020 election. Signature Bank is now finding itself closed…
Dodd-Frank Is 10 Years Old Today and the Fed Is Back to Bailing Out Wall Street…
Today marks the 10th Anniversary of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, named after its two sponsors, former Senator Christopher Dodd (D-CT) and former Congressman Barney Frank (D-MA). The massive piece of legislation was signed into law on July 21, 2010 by President Barack Obama at a time when […]
CFPB Chief Mick Mulvaney Formally Asks Congress to Slash the Agency’s Power…
The head of the Consumer Financial Protection Bureau formally called on Congress to sharply reduce his agency’s authority. Among the suggestions he delivered Monday: Any major new rules the bureau makes should be subject to lawmakers’ approval. “The bureau is far too powerful, with previous little oversight of its activities,” Mick Mulvaney — who has […]
Victory in Sight for Democrats Defying Warren on Bank Bill…
Republicans and Democrats in the Senate are poised to pass a bill this week that would relax key banking regulations, steamrolling opposition from outspoken liberals like Sen. Elizabeth Warren who have built their careers calling for tougher oversight of Wall Street. A core group of moderate Democrats is brushing off an escalating opposition campaign by […]
CFPB’s Data-Mining on Consumer Credit Cards Challenged in Heated House Hearing…
Consumer Financial Protection Bureau officials are seeking to monitor four out of every five U.S. consumer credit card transactions this year — up to 42 billion transactions – through a controversial data-mining program, according to documents obtained by the Washington Examiner. A CFPB strategic planning document for fiscal years 2013-17 describes the “markets monitoring” program […]
CFPB’s ‘NSA-Like’ Surveillance in Limbo with Leadership Tussle…
The fight for control of the Consumer Financial Protection Bureau may have significant effects on the bureau’s mass acquisition of private financial records, according to privacy advocates. The CFPB pools vast quantities of data for research purposes, including millions of people’s credit card records, which it says are anonymized, commercially available and tracked to help […]
GOP Makes Bogus Case for Bank Deregulation as Senate Certain to Curtail House Dodd Frank “Reform”…
We’ve argued from the crisis onward that the limited re-regulation of banking that took place was inadequate. But the Republicans are whinging that banks nevertheless are being treated badly despite a lack of evidence behind virtually all of their claims. The effort to give already-overly-coddled banks an even better deal is lumbering forward. The House […]