Anonymous
03/28/2025 17:19
Subject: Shutting down the CFPB
PI granted saving CFPB for now. Opinion is worth a read. Eye opening as to the crazy and very illegal stuff going on there with DOGE and Vought over the last month.
Anonymous
03/27/2025 22:31
Subject: Shutting down the CFPB
Anonymous wrote:Complaining about “debanking” means they don’t want to comply with money laundering and anti-terror financing rules. Why? Because if you deal with crypto, you literally cannot abide by the money laundering laws due to the anonymity of crypto.
Unfortunately, a bunch of morons listen to these dumb podcasts where crypto companies cry about being so persecuted. Or where big tech cries that regulators are so mean to them.
These tech companies truly believe they should be above the law and are frankly shocked that anyone would think they aren’t running the best, fairest businesses out of the kindness of their hearts.
Anonymous
03/27/2025 22:23
Subject: Shutting down the CFPB
Complaining about “debanking” means they don’t want to comply with money laundering and anti-terror financing rules. Why? Because if you deal with crypto, you literally cannot abide by the money laundering laws due to the anonymity of crypto.
Anonymous
03/27/2025 22:18
Subject: Shutting down the CFPB
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:How many lawsuits have they dropped over the last few weeks? Those defrauded consumers will never, ever get their money back now. Can someone explain why this administration wants to protect skeezy lenders?
Republican Senate just passed a bill increasing bank overdraft fees, which had been capped by a CFPB rule at $5. The average overdraft fee when not capped is $35.
Have you heard of a thing called inflation? Can you get a five dollar footlong anymore?
At least the people paying $35 overdraft fees didn't get debanked for reputation risks.
$35 overdraft fees made sense when banks incurred real costs because of overdrafts. They don't anymore b/c of technological advances. Overdrafts haven't become more expensive over time. They've become less expensive.
And CFPB has nothing to do with debanking or repetitional risk. That would be agencies like OCC or FDIC. https://www.bankingdive.com/news/fdic-plans-eradicate-focus-reputational-risk/743591/
Do your own research and stop parroting other people's talking points. You might learn something.
“Debanking” is one of those words (like “bloat”) that tells you everything you need to know about the person parroting it: they are poorly informed and repeating something they heard on a podcast. It sounded very clever to them and they think listening to some tech or crypto head rambling gives them deep knowledge of financial policy.
Anonymous
03/27/2025 22:13
Subject: Shutting down the CFPB
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:How many lawsuits have they dropped over the last few weeks? Those defrauded consumers will never, ever get their money back now. Can someone explain why this administration wants to protect skeezy lenders?
Republican Senate just passed a bill increasing bank overdraft fees, which had been capped by a CFPB rule at $5. The average overdraft fee when not capped is $35.
Have you heard of a thing called inflation? Can you get a five dollar footlong anymore?
At least the people paying $35 overdraft fees didn't get debanked for reputation risks.
$35 overdraft fees made sense when banks incurred real costs because of overdrafts. They don't anymore b/c of technological advances. Overdrafts haven't become more expensive over time. They've become less expensive.
And CFPB has nothing to do with debanking or repetitional risk. That would be agencies like OCC or FDIC. https://www.bankingdive.com/news/fdic-plans-eradicate-focus-reputational-risk/743591/
Do your own research and stop parroting other people's talking points. You might learn something.
Easy
Fix don’t write bad checks no overdraft fees.
That’s not easy for a lot of people.
How high do you think overdraft fees should go? $100 for each penny overdrawn?
Sounds good to me. That’s what the people wanted, right? What a popular position to take for sure.
Anonymous
03/27/2025 22:12
Subject: Shutting down the CFPB
Anonymous wrote:Anonymous wrote:Anonymous wrote:How many lawsuits have they dropped over the last few weeks? Those defrauded consumers will never, ever get their money back now. Can someone explain why this administration wants to protect skeezy lenders?
Republican Senate just passed a bill increasing bank overdraft fees, which had been capped by a CFPB rule at $5. The average overdraft fee when not capped is $35.
Have you heard of a thing called inflation? Can you get a five dollar footlong anymore?
At least the people paying $35 overdraft fees didn't get debanked for reputation risks.
Those things have nothing to do with one another. WTF are you talking about? Enjoy getting scammed by banks, credit card companies, mortgage lenders, and the brand new X payments system. It’s all legal now. Oh and so is debanking!
I’m sure being distracted by the “debanking” bogeyman, which is only tangentially connected to CFPB— at best!, was worth it.
Anonymous
03/27/2025 21:36
Subject: Shutting down the CFPB
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:How many lawsuits have they dropped over the last few weeks? Those defrauded consumers will never, ever get their money back now. Can someone explain why this administration wants to protect skeezy lenders?
Republican Senate just passed a bill increasing bank overdraft fees, which had been capped by a CFPB rule at $5. The average overdraft fee when not capped is $35.
Have you heard of a thing called inflation? Can you get a five dollar footlong anymore?
At least the people paying $35 overdraft fees didn't get debanked for reputation risks.
$35 overdraft fees made sense when banks incurred real costs because of overdrafts. They don't anymore b/c of technological advances. Overdrafts haven't become more expensive over time. They've become less expensive.
And CFPB has nothing to do with debanking or repetitional risk. That would be agencies like OCC or FDIC. https://www.bankingdive.com/news/fdic-plans-eradicate-focus-reputational-risk/743591/
Do your own research and stop parroting other people's talking points. You might learn something.
Easy
Fix don’t write bad checks no overdraft fees.
That’s not easy for a lot of people.
How high do you think overdraft fees should go? $100 for each penny overdrawn?
Anonymous
03/27/2025 21:31
Subject: Shutting down the CFPB
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:How many lawsuits have they dropped over the last few weeks? Those defrauded consumers will never, ever get their money back now. Can someone explain why this administration wants to protect skeezy lenders?
Republican Senate just passed a bill increasing bank overdraft fees, which had been capped by a CFPB rule at $5. The average overdraft fee when not capped is $35.
Have you heard of a thing called inflation? Can you get a five dollar footlong anymore?
At least the people paying $35 overdraft fees didn't get debanked for reputation risks.
$35 overdraft fees made sense when banks incurred real costs because of overdrafts. They don't anymore b/c of technological advances. Overdrafts haven't become more expensive over time. They've become less expensive.
And CFPB has nothing to do with debanking or repetitional risk. That would be agencies like OCC or FDIC. https://www.bankingdive.com/news/fdic-plans-eradicate-focus-reputational-risk/743591/
Do your own research and stop parroting other people's talking points. You might learn something.
Easy
Fix don’t write bad checks no overdraft fees.
Anonymous
03/27/2025 21:24
Subject: Shutting down the CFPB
Anonymous wrote:Anonymous wrote:Anonymous wrote:How many lawsuits have they dropped over the last few weeks? Those defrauded consumers will never, ever get their money back now. Can someone explain why this administration wants to protect skeezy lenders?
Republican Senate just passed a bill increasing bank overdraft fees, which had been capped by a CFPB rule at $5. The average overdraft fee when not capped is $35.
Have you heard of a thing called inflation? Can you get a five dollar footlong anymore?
At least the people paying $35 overdraft fees didn't get debanked for reputation risks.
$35 overdraft fees made sense when banks incurred real costs because of overdrafts. They don't anymore b/c of technological advances. Overdrafts haven't become more expensive over time. They've become less expensive.
And CFPB has nothing to do with debanking or repetitional risk. That would be agencies like OCC or FDIC. https://www.bankingdive.com/news/fdic-plans-eradicate-focus-reputational-risk/743591/
Do your own research and stop parroting other people's talking points. You might learn something.
Anonymous
03/27/2025 20:20
Subject: Shutting down the CFPB
Anonymous wrote:Anonymous wrote:How many lawsuits have they dropped over the last few weeks? Those defrauded consumers will never, ever get their money back now. Can someone explain why this administration wants to protect skeezy lenders?
Republican Senate just passed a bill increasing bank overdraft fees, which had been capped by a CFPB rule at $5. The average overdraft fee when not capped is $35.
Have you heard of a thing called inflation? Can you get a five dollar footlong anymore?
At least the people paying $35 overdraft fees didn't get debanked for reputation risks.
Anonymous
03/27/2025 20:11
Subject: Shutting down the CFPB
Anonymous wrote:Anonymous wrote:Anonymous wrote:How many lawsuits have they dropped over the last few weeks? Those defrauded consumers will never, ever get their money back now. Can someone explain why this administration wants to protect skeezy lenders?
Republican Senate just passed a bill increasing bank overdraft fees, which had been capped by a CFPB rule at $5. The average overdraft fee when not capped is $35.
This is one of several CFPB rules they’ve CRA-ed (aka, killed) recently. The other big rule was for the CFPB to supervise nonbank tech companies that offer digital payments. I wonder why they’d do that. Didn’t someone with the initials “EM” want to get into digital payments? No conflict there.
To be real. It’s completely inexplicable why any “normal” (non-billionaire or non-loan shark) person would support the destruction of this agency.
+1
Anonymous
03/27/2025 20:03
Subject: Shutting down the CFPB
Anonymous wrote:Anonymous wrote:How many lawsuits have they dropped over the last few weeks? Those defrauded consumers will never, ever get their money back now. Can someone explain why this administration wants to protect skeezy lenders?
Republican Senate just passed a bill increasing bank overdraft fees, which had been capped by a CFPB rule at $5. The average overdraft fee when not capped is $35.
This is one of several CFPB rules they’ve CRA-ed (aka, killed) recently. The other big rule was for the CFPB to supervise nonbank tech companies that offer digital payments. I wonder why they’d do that. Didn’t someone with the initials “EM” want to get into digital payments? No conflict there.
To be real. It’s completely inexplicable why any “normal” (non-billionaire or non-loan shark) person would support the destruction of this agency.
Anonymous
03/27/2025 19:21
Subject: Shutting down the CFPB
Anonymous wrote:How many lawsuits have they dropped over the last few weeks? Those defrauded consumers will never, ever get their money back now. Can someone explain why this administration wants to protect skeezy lenders?
Republican Senate just passed a bill increasing bank overdraft fees, which had been capped by a CFPB rule at $5. The average overdraft fee when not capped is $35.
Anonymous
03/27/2025 17:54
Subject: Shutting down the CFPB
How many lawsuits have they dropped over the last few weeks? Those defrauded consumers will never, ever get their money back now. Can someone explain why this administration wants to protect skeezy lenders?
Anonymous
03/27/2025 17:44
Subject: Shutting down the CFPB
Anonymous wrote:CFPB has had a target on its back since it was first instituted (GOP previously tried to take it down through the court process).
I’m honesty surprised they didn’t start with CFPB and instead went after USAID as the first scapegoat agency. Maybe they wanted to test whether it would work.
They were both investigating Trump allies so they both had to go.