A leading contender to run the Office of the Comptroller of the Currency, Michael Barr, has a particular cheering section among the shadiest of online financial operators.
fintech
Posted inCabinet Watch
Financial Regulation in a Biden Administration
Two key positions—at OCC and SEC—are up in the air.
Posted inCoronavirus
Unsanitized: Mnuchin Knew Two Weeks Ago That Financial Predators Could Grab Emergency Coronavirus Checks
Also, the airline bailout gets locked in, and D.C. lobbying goes virtual. This is The COVID-19 Daily Report for April 15, 2020.
Posted inEconomic Policy
Building the People’s Banks
Establishing financial institutions and regulations that work for middle- and low-income Americans is possible. We just have to do it.
Posted inMoney, Politics, and Power
Trump’s Bank Regulators Open the Door to More Predatory Lending
A new proposed rule would allow ‘rent-a-bank’ schemes that could permit unlimited interest rates on loans as long as they come via a chartered bank.
Posted inMoney, Politics, and Power
Freddie Mac Using Shady AI Company for Mortgage Loans
ZestFinance is implicated in high-cost payday lending and backed by Peter Thiel. It’s now working with a government-sponsored mortgage giant.
Posted inEconomic Policy
The Ultimate Anti-Competitive Mergers
“Fintech” is promoted as great for consumers. Mainly it’s about more market power.
Posted inEconomic Policy
Trump Team Wants to Wipe Out Consumer Protections, and Obama Administration Just Handed Them the Tools
The Obama administration has pre-empted some state banking rules in a bid to protect consumers, but President-elect Trump may soon turn the tables.
