Will they listen to Wall Street and ppl like Jamie Dimon and pause incoming tariffs ? That'll determine what happens next.

Judge orders CFPB to reinstate fired employees, preserve records and get back to work Judge Amy Berman Jackson sided with the CFPB employee union that sued acting CFPB director Russell Vought last month.

Elon Musk's "CFPB RIP" post may have been premature 👇

www.cnbc.com/2025/03/28/j...

Here's why banks don’t want the CFPB to disappear The Consumer Financial Protection Bureau and its employees are in limbo after acting Director Russell Vought took over last month.

Here's why #banks don’t want the #CFPB to disappear | @CNBC.com by @serhughoftheglen.bsky.social

buff.ly/y6iNxNs

#politics #banking #saving #investing #consumers

Bank Stocks Week-to-Date:

Citigroup: -12.8%
Morgan Stanley: -11.1%
BofA: -10.2%
Goldman Sachs: -9.5%
Wells Fargo: -9.4%
JPMorgan: -7.8%

Trump administration, Musk’s DOGE plan to fire nearly all CFPB staff and wind down agency, employees say Employees testified that CFPB leaders and Elon Musk's DOGE want to wind down the agency to five employees, the minimum required under law.

CFPB insiders say the plan from Vought & Musk is to reduce the agency to "Five Men and a Phone" buried somewhere in a DC office.

For more, read this 👇

www.cnbc.com/2025/02/28/c...

Trump administration, Musk’s DOGE plan to fire nearly all CFPB staff and wind down agency, employees say Employees testified that CFPB leaders and Elon Musk's DOGE want to wind down the agency to five employees, the minimum required under law.

JUST IN (#CFPB) via @CNBC.com's @serhughoftheglen.bsky.social:

"The Consumer Financial Protection Bureau’s #Trump -appointed leadership plans to fire nearly all its 1,700 employees while 'winding down' the agency, acc'd to testimony from employees."
www.cnbc.com/2025/02/28/c...

CFPB’s new leadership begins staff purge with dozens of employees terminated The terminations have sowed more confusion at the bureau, as several of those being laid off had already accepted federal buyout offers, said one of the people.

"This is an unlawfully-executed mass firing," said Johanna Hickman, a senior CFPB litigation counsel who said she received the agency's dismissal notice....

The CFPB sent termination notices to several dozen employees late Tuesday...

www.cnbc.com/2025/02/12/c...

Consumer Financial Protection Bureau staff told to work remotely as headquarters is shuttered CFPB employees were told Sunday to work remotely because their Washington, D.C., headquarters would be closed through Feb. 14, according to a memo.

CFPB update:

On Monday morning, Vought reiterated the message in an agency-wide email to staff, saying that employees needed clearance from chief legal officer Mark Paoletta to "perform any work task."

www.cnbc.com/2025/02/09/c...

Consumer Financial Protection Bureau staff told to work remotely as headquarters is shuttered CFPB employees were told Sunday to work remotely because their Washington, D.C., headquarters would be closed through Feb. 14, according to a memo obtained by CNBC.

CFPB staff were already bracing for the worst after the news of the last 3 days.

Now they're being told their HQ is shuttered... which feels, to many at regulator, like the prelude to mass layoffs.

www.cnbc.com/2025/02/09/c...

Elon Musk’s X begins its push into financial services with Visa deal Visa will enable X users to move funds between traditional bank accounts and their digital wallet and make instant peer-to-peer payments, like Zelle or Venmo.

news on that other site ...

This comes as Trump admin beats up on financial incumbents for "de-banking" and Elon's banks finally unload the Twitter-X debt.

cnbc.com/2025/01/28/e...

good morning! always great to greet the day with Frank Holland & the WEX crew to preview bank earnings...

Life imitates art imitating life ..

Money Talks: The Synapse Scandal Hugh Son joins to explain the complicated mess left in the wake of a fintech failure, and how users were left holding the bag.

I really enjoyed chatting w/@felixsalmon.com about the Synapse mess , take a listen & share please.

The fact that thousands of Americans have been wiped out from their FDIC-backed savings accounts is a scandal.

slate.com/podcasts/sla...

American Airlines chooses Citi as sole credit card partner, drops Barclays American Airlines had been in talks for months for a new credit card deal with Citi.

Always nice to see your work confirmed; back in Sept, we reported that American Airlines was set to make Citi its sole card partner, dropping Barclays @lesliejosephs.bsky.social ✈️

www.cnbc.com/2024/12/05/a...

Banks hit credit card users with higher rates in response to regulation that may never arrive CFPB regulation meant to save consumers $10 billion a year has resulted in higher costs for some, as banks react by hiking interest rates and charging new fees.

I'm gonna hit the sack early tonight to join Frank Holland early tomorrow to chat about this piece.

It's about how a reg meant to save Americans $10 billion a year in "junk fees" has ended up costing them money instead 👇

www.cnbc.com/2024/12/03/b...

a cat is sitting on a chair and looking at the camera while holding something in its paws . ALT: a cat is sitting on a chair and looking at the camera while holding something in its paws .

finally figured out how to get on this thing, yippee 👋