Visa Trying to Bribe Merchants to Stop Taking Cash
The latest chapter in the War on Cash.
Read more...Category Archives: Credit cards
Bill Black: The CFPB Arbitration Rule is Pro (Honest) Businesses
The CFPB takes a modest but important step to rein in fraud against consumers, which has banks hoppin’ mad.
Read more...Mandatory Arbitration Clauses: What’s Next?
What will CFPB head Richard Cordray do about mandatory arbitration clauses. Some Dems mull action– even without majority to change policy.
Read more...Taking on Trump’s Agenda: Nine Tough Questions for SEC Chair Nominee Jay Clayton on the Eve of His Confirmation Hearings
Risk your rice bowls! My riposte to pearl-clutching white shoe lawyers calling on Trump SEC nominee to denounce Trump visa ban.
Read more...The CFPB’s Big Opponent, Jeb Hensarling, Rivals Trump in the “Make Stuff Up” Category
House Financial Services Committee chairman Jeb Hensarling takes his best shot at the CFPB and fails to land a single blow.
Read more...Trump’s and Hensarling’s Fact-Free Attack on Dodd Frank
Debunking Republican canards about Dodd Frank.
Read more...Things Just Got Serious in Europe’s War on Cash
Latest salvo on cash: European Commission explores setting a maximum limit on cash transactions, to apply cross-regionally from 2018.
Read more...Finance and Growth: The Direction of Causality
Too much finance is highly correlated with slower growth. But which comes first?
Read more...Yet Another Glaring Flaw With Trump Infrastructure Plan: Dependence on Vagaries of Tiny, Slow-Moving Tax Equity Market
The oh-so-clever Trump plan to use tax credits to fund infrastructure spending means it will be too small and slow to provide any real boost.
Read more...Can Trump Fire CFPB’s Cordray on Day One?
Republicans have been hostile to the CFPB since its inception. Will Trump fire Cordray quickly– relying on an October court ruling?
Read more...CFPB’s Project Catalyst Relies on Financial Innovation Fairy to Rescue the Underbanked
The CFPB’s Project Catalyst relies on the financial innovation fairy to produce consumer-friendly financial products rather than regulation.
Read more...Wolf Richter: Wells Fargo Hasn’t Changed One Iota – Aggressive Cross Selling Baked In
This is Naked Capitalism fundraising week. 1282 donors have already invested in our efforts to combat corruption and predatory conduct, particularly in financial realm. Please join us and participate via our Tip Jar, which shows how to give via check, credit card, debit card, or PayPal. Read about why we’re doing this fundraiser, what we’ve accomplished in the […]
Read more...CFPB Looks Here to Stay: What Does the Future Hold?
A decision by the D.C. Circuit Court of Appeals overturning the CFPB director structure allows the agency to pursue its ongoing policy and enforcement agenda. With separate new regulations on payday lending and mandatory arbitration expected soon, will consumers finally get the more effective financial product regulation we deserve?
Read more...Stumpf is Still Faking It – Claims 75% Couldn’t Resist Wells Fargo Credit Cards
In a not-exactly-shocking development of the ongoing Wells Fargo account faking scandal (see our previous coverage here, here and here if you’re late to the party and need a quick catch-up) CEO John Stumpf, fighting a rear-guard action, is making outlandish claims about how, having begun the process of contacting customers who it has cause to […]
Read more...Wells Fargo Fake Accounts Hidden by Fake Whistleblowing: Former Employees, Including HR Officials, Allege Systematic Retaliation
As short seller David Einhorn says, “No matter how bad you think it is, it’s worse.” That’s proving true at Wells Fargo as former employees allege systematic whistleblower retaliation.
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