Earned wage access is pitched as a way to instantly get money for paid work. But companies attach high fees, and they are seeking exemptions from consumer protection laws.
financial industry
Posted inEconomic Policy
Fed Report on Silicon Valley Bank Confirms Its Supervision Arm Shouldn’t Exist
The supervisors knew exactly what was happening at the bank, and were institutionally incapable of acting. This isn’t an isolated incident.
Posted inTAP
The Soaking at Bed Bath & Beyond
Today on TAP: Who bought all that stock, as the retailer was on the route to bankruptcy?
Posted inMoney, Politics, and Power
New Astroturf Crypto Campaign Appears on Social Media
The House Financial Services Committee’s upcoming hearings on cryptocurrency regulation coincide with new groups pushing vapid digital campaigns.
Posted inEconomic Policy
Bank Pullback Drives More Real Estate Financing to Shadow Lenders
Regional banks have been thought to be at risk from rising vacancies and lower valuations of commercial real estate, but asset managers and other non-banks are more exposed.
Posted inTAP
Are Good Jobs Good News?
Today on TAP: At many media outlets, however belatedly, they are. But not at The Wall Street Journal.
Posted inEconomic Policy
Rise of the Climate Rating Agencies
Government and the private sector rely increasingly on risk-modeling firms that claim they can zero in on exposure to climate change.
Posted inTAP
The Double Standard for Keeping Capital and Labor Honest
Today on TAP: There is far more corporate crime than crimes by unions. But corrupt labor officials are prosecuted and jailed, while executive thugs walk.
Posted inPodcasts
The SVB Collapse
Skanda Amarnath explains why Silicon Valley’s favorite bank imploded.
Posted inEconomic Policy
David Sacks Justifies Bailout by Highlighting Elite Private Boarding School
Claiming that a failure to guarantee all Silicon Valley Bank deposits would hurt ‘mom-and-pop’ businesses, Sacks then chose the worst possible example.
