Elon Musk, who’s worth $400 billion, making him the world’s richest man, wants to “delete” the Consumer Financial Protection Bureau (CFPB) (see story here). The federal agency may not survive the Trump administration. Here’s what it does, and why ordinary Americans ne[...]
Posts Tagged ‘banks’
Biden caps bank overdraft fees at $5.00
The Consumer Financial Protection Bureau (CFPB) issued a new banking rule on Thursday, December 12, 2024, that caps bank overdraft fees at $5.00 beginning October 1, 2025. It may not last long. Huffington Post says (here) the new regulation “faces an uncertain future under President-elect Dona[...]
Why are banks failing again?
Silicon Valley Bank (SVB) failed on Friday, March 10, 2023. Government officials scrambled to reassure the public their deposits aren’t in danger. Are they? At the larger banks, at least, probably not. To begin with, the FDIC insures individual depositors against up to $250,000 of losses. This[...]
When 1-3 is a majority, until it isn’t
Trump’s FDIC chair, Jelena McWilliams, wasn’t ousted; she quit. (Story here.) The FDIC is the federal agency that insures bank deposits (details here). McWilliams was appointed in 2018 to a 5-year term expiring in 2023. By December 2021, she was the only Republican on the 5-member board,[...]
October 20th, 2015 - 8:19 am § in Misc.
PIBLICOLA: The D3 Mascotts
Over at PUBLICOLA, Josh Feit asked Pam Banks and Kshama Sawant to name their district mascots. Pamela Banks: The Jimi Hendrix Statues The statue itself is an iconic part of Capitol Hill and represents the amazing vibrancy and diversity of our cultural scene. It also reminds us, sadly, of the [...]
February 6th, 2015 - 12:44 am § in Hypocrisy
Book Review: Immunity for the rich, a police state for the poor
“The problem is, if the law is applied unequally enough over a long enough period of time, at some point, law enforcement becomes politically illegitimate. Whole classes of arrests become (circle one) illegal, improper, morally unenforceable.” — The Divide: American Injustice in t[...]
The Romney Girl Video
The Swiss bankers are not happy about this:[...]