America's acting chair of the Office of the Comptroller of the Currency (#OCC) is officially opening the floodgates to american banks getting involved with money laundering - sorry, i mean "cryptocurrency".
https://x.com/USOCC/status/1920180546837053516
#moneylaundering #corruption #uspol #trumpcoin #trump #crime #uspolitics #SEC #FDIC
The US Federal Reserve has withdrawn its requirement for banks to seek regulatory approval before engaging in #crypto activities, joining the #FDIC and #OCC. This move aims to support #innovation and aligns US banking policy with evolving digital asset risks. #FederalReserve #banking #cryptonews #regulation
Bank of America'ya 540 milyon dolarlık ceza: ABD'nin ikinci büyük bankası olan Bank of America, Federal Mevduat Sigorta Kurumu'na (FDIC) mevduat sigortası borcunu eksik ödediği gerekçesiyle 540,3 milyon dolar ödeme yapmaya mahkum edildi. ABD'nin Washington eyaletindeki Bölge Yargıcı Loren AliKhan bu kararı duyurdu. Ödemelerin, 2013'ün ikinci çeyreğinden 2014 sonuna kadar olan değerlendirmeler ve bu… https://www.eshahaber.com.tr/haber/bank-of-america-ya-540-milyon-dolarlik-ceza-218255.html?utm_source=dlvr.it&utm_medium=mastodon EshaHaber.com.tr #BankOfAmerica #FDIC #Ceza #Finans #Ekonomi
Via Marisa Kabas 🦋
Trump has already made it clear FDIC is a target. An early February executive order aimed at giving the president more power over independent regulatory agencies included the #FDIC.
The Federal Deposit Insurance Corporation #FDIC is an independent agency created by the #Congress to maintain #stability and public confidence in the nation's #financial system. We have no more independent agencies. #DOGE invaded the #FDIC today and will be applying their atrocious #AI to plunder one of the last remaining secure #bank data and #statistics repositories. “The FDIC is a prudential #regulator, meaning for some banks it is the primary regulator enforcing all the capital requirements"
@KimPerales anyone have any sense if this #fdic madness is impacting credit unions and the #NCUA ? Could credit unions be a relatively safe harbor from the banking crisis? Or are credit union deposits just as vulnerable?
I remain much against buying things in the US. I am NOT going on a pre #tariff spending spree. If anything we did a little of that before Biden left (got a fridge that was badly needed) and stocked up on some canned goods. But we are stopping that now! Time to bow out of this economy as much as can. If you have any savings, maybe buy some land so that they can't steal your money. Remember, Trump has threatened to end the #FDIC and you can probably imagine why! #trumpdepression #trumprecession
Banking Collapse: #FDIC: dismantling -underway:
Collapse of inst safeguards -procedural. Weakening of #FDIC oversight +mvt toward prv dig assets affect lg banks/crypto +YOU.
Your Savings:🚨Dereg -quietly transferring risk back onto depositors.
Access: Centralizing control under: TSY: fewer✔️s & bals. Decisions re your💰-less transparent -more pol.
FIN options: Rapid dig/prv-mkt...
Consumer protections: Recent leg dismantling restrictions...
HOU instability...
#USPol https://criticalresistance.substack.com/p/banking-collapse-update-the-fdic
US FDIC states banks can engage in cryptocurrency and other legally permitted activities without prior approval, as long as they manage risks appropriately. 💼 #FDIC #Cryptocurrency #Banking #Regulation #Fintech #CryptoNews #BusinessNews #RiskManagement
Dismantling the #FDIC is on the Trump admin's agenda.
That means if you're in the U.S. and your bank fucks up, your money is gone!!!
Great interview on @CryptoCriticPod with a former SEC official about what went wrong w/crypto enforcement. My favourite quote:
> “Crypto is a machine where fraud and money laundering go in one side and campaign contributions come out the other end.”
He also makes an important point about how crypto scams functionally DDoS'ed America's regulators.
> "Having 15,000 nationally available non-compliant securities [that want to litigate every step of the way] issued [within such a short time span] is not something that’s ever happened before."
https://www.youtube.com/watch?v=aF7gR-1MHbw
#SEC #CFTC #finreg #FDIC #uspol #trump #DOGE #corruption #fraud
Good clip going through #DOGE bro #MarcAndreessen's absurd lies regarding #debanking and the #CFPB as he attempts to convince #JoeRogan that financial regulation should be abolished.
https://www.youtube.com/watch?v=FML74J7HZJs
#uspol #elonMusk #a16z #RohitChopra #RyanGrim #DropsiteNews #JoeRogan #FDIC #SEC #ElizabethWarren
who's afraid of a little systemic risk?
https://www.reuters.com/business/finance/us-bank-regulator-reaffirms-banks-can-engage-some-crypto-activities-2025-03-07/
Good WSJ article about the war between #Tether and #Circle to capture America's financial regulations on crypto stablecoins.
- Tether has on its side #HowardLutnick (Secretary of Commerce) and #JustinSun (Trump's business partner)
- Circle has on its side #MarcAndreessen and the rest of the American #NerdReich like Coinbase CEO #BrianArmstrong
* WSJ: https://www.wsj.com/finance/currencies/who-is-giancarlo-devasini-tether-jeremy-allaire-circle-90a408b9
* no paywall: https://archive.ph/FQ9hI
lots of heinous details about the #CFPB's dropping of a huge number of cases against various kinds of financial scammers and predatory lenders etc. from #FintechBusinessWeekly, by far the best reporter on the CFPB beat who is often reporting on this stuff years before #WSJ or #NYT get around to noticing.
https://fintechbusinessweekly.substack.com/p/fast-and-furious-fdic-cfpb-reverse
FDIC Ends Disclosing Total Assets of Banks on “Problem Bank List,” as Disclosure Might Suddenly Trigger a “Disorderly Run” | Wolf Street
Link📌 Summary: 近期，美國聯邦存款保險公司（FDIC）宣佈自 2024 年第四季起將不再公開「問題銀行名單」上的總資產資訊，只會顯示銀行的數量。這一變更削弱了公眾對大型銀行可能發生的問題的警覺，無法知曉較大銀行是否已被列入名單。此外，FDIC 副主席 Travis Hill 提出幾個理由解釋這一決策，並暗示可能未來會對銀行的「未實現損失」進行類似的隱瞞，此舉可能將對銀行的透明度造成進一步影響，甚至可能導致金融不穩定。
Trump is firing federal workers who are not funded by taxpayers
https://archive.is/Sg9Td#selection-1099.0-1099.63
"Elon Musk's #DOGE team has slashed hundreds of #jobs paid for by fees from banks, medical device companies and other forms of funding rather than taxpayer dollars, raising the question of whether the cuts will render hoped for savings...
"The #FDIC is funded through fees paid by banks, so cutting the FDIC's expenses does nothing to reduce the federal budget""
