Michael Hsu, former OCC head, has joined a VC firm backing crypto and fintech companies.
deregulation
Posted inEconomic Policy
Pick Your Financial Crash
What are the risks of a financial crash in the coming year? Let us count the ways.
Posted inEconomic Policy
Credit Unions Go Large and Go Rogue
Intended to bolster local access to lending, large credit unions today are swallowing up community banks. A Trump purge has reduced their oversight to one regulator.
Posted inMoney, Politics, and Power
Big Tech Poised to Win Immunity Shield From State AI Regulation
The Trump administration is readying an executive order preempting constraints on AI. It could become a much more wide-ranging deregulatory tool.
Posted inEconomic Policy
Making Banking Supervision Suck Again
Bank supervision consists of two main prongs: risk management and compliance. On the compliance side, consumer protection laws are being enforced less than at any time since at least the Great Recession.
Posted inMoney, Politics, and Power
Crypto Bros Want to Create Micro Landlords
You might expect crypto enthusiasts to look down their noses at landlording as an antiquated way to earn a fortune, not worth their time when they are busy democratizing money. But in finance, everything old is new again. “Fractional ownership” of “tokenized real estate,” the latest crypto scheme, works like this: a company sells investors […]
Posted inBooks, Arts and Culture
Brown Stage Capitalism
Doctorow coined the term “enshittification” in 2022, though it was hardly a new phenomenon even then. In granting apps the right to wield the absurdities of intellectual property law to legally bully their users, the government emboldened tech founders to view their companies as exempt from laws and regulations.
Posted inMoney, Politics, and Power
Ted Cruz Attempts to Exempt Big Tech From the Law
The Texas senator has introduced a bill allowing any AI company a streamlined path around regulations.
Posted inMoney, Politics, and Power
Down and Out on the Crypto Frontier
In Wyoming, the Delaware of cryptocurrency, industry players celebrated their fortunes and said everyone will benefit. But workers haven’t seen it.
Posted inEconomic Policy
Crypto Bank Machine Operators Swindle Seniors
Once described as the ‘AR-15s of the financial services industry,’ crypto ATMs remain a hotbed for scams targeting vulnerable communities. But third-party fraudsters aren’t the only ones laughing all the way to the bank.