Adam Rust

If regulators grant banking #charters to 10 #fintechs, and 3 fail within 3 years, is that a net positive? Or 2, or 4? That is the question. How much risk is acceptable?

@royalsreview Except the fixed Cole Ragans. And developed Kris Bubic and Noah Cameron. Didn't interfere with Brady Singer. Pitching is hard. Every team struggles. Prospects are never sure things.

Royals release former first-round pick Asa Lacy royalsreview.com/kansas-city-ro…

Literally, I have heard from banks that they are scared about having an #SPCP, or even not calling in existing loans. For opponents of "regulatory overreach," the #CFPB's radical #ECOA final rule is a prime example of a regulator telling banks how to lend. consumerfed.org/press_release/…

So, OpenAI is buying a personal financial management tool (#pfm). Wouldn't it be nice if there were a rule giving people personal #financial data rights? Like a #cfpb #Section1033 rule? pymnts.com/acquisitions/2…

@SasquatchVinnie D

You can only sit and roam within one Kauffman Stadium region. Which letter are you picking?

To the @WhiteHouse claim that the #CFPB costs consumers billions... the cost of regulation is: your car comes with brakes, those brakes meet safety standards, someone inspects them, and car companies pay a price when they manufacture dangerous vehicles. @consumerfed

If the White House's critique is that the #CFPB costs consumers money, why has it reversed $19 billion in CFPB-granted relief for consumers this year?

The #Bitsika card perfectly illustrates how some #fintechs and their partner banks see KYC evasion as a product differentiator. They add risk across the #payments ecosystem. bitsika.com

@AdamRust9 This is such an important connection.. linking BSA and consumer protection feels like a real path to stopping harm and getting victims actual redress. Great work pushing this forward.

Yesterday, @SenWarren @SenatorDurbin @ChrisVanHollen @RepPressley @RepCasten stood with advocacy groups & the @NTEUnion to #DefendCFPB. They know Congress represents people, not billionaires. Thank you for your leadership for the #CFPB. @BorrowerJustice @RealBankReform

I have a new paper out today calling for greater linkage b/w BSA work against #IllicitFinance & #ConsumerProtection enforcement efforts to fight #scams. This is an opportunity for victims to receive redress. Do you know about funnel accounts? Learn more by reading my paper!

@SheilaBair2013 comments in the @FT: US banks need to cut their #creditcard interest rates. Ms. Bair prefers a cap at FFR + 10 percent, an amount consistent with historical market norms. ft.com/content/0d01fc…

@BBGreatMoments Salvy

Current MLB Hall of Fame Tier List. (Graphic: BetMGM)

About to enjoy the @ncbudgetandtax Economy For All Summit .ncbudget.org/econ4all?snw=2…

@WadeOnTweets Thanks, Wade!

@AdamRust9 🌞 ⓗⓐⓟⓟⓨ ⓑⓘⓡⓣⓗⓓⓐⓨ 🌝 (¯`·.¸¸.·´¯`·.¸¸.-> ⓐⓓⓐⓜ <-.¸¸.·´¯`·.¸¸.·´¯)

@Farzin21 He went to Duke!

How we feeling about TE2?

The Mercury #charter application runs 17 pages, with a 1-page #CRA plan. By comparison, OneMain's 2024 app was 101 pages, with a 28-page CRA plan. De novo shouldn't mean desultory.

Notwithstanding that a #ratecap cannot occur without congressional action, limiting such a change to one year effectively requires deferred-interest cards for everyone. The main takeaway should be that financial services expenses need to be a part of the #affordability agenda.

Notwithstanding the Qs of if a #creditcard cap can be done by fiat (it can't), and if 10% is the right price...I hope the idea that costs for financial services are as much a part of the #affordability agenda as the price of eggs, rent, and transportation.

I'm kind of let down by Wall Street penalizing #creditcard banks today; usually, the wisdom of crowds leads to a more realistic analysis. Suffice to say, Congressional action, rulemaking, and court injunctions won't be done by next Tuesday.