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☆ How tech's right-wing elite made 'debanking' claims into a political rallying point
▼ + stars: | 2024-12-10 | by ( David Ingram | David Ingram Is A Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +15 min

There is no guaranteed right to banking services, and Andreessen and Musk both have a history of making inflammatory political statements. Last week, in a victory for the crypto industry, Trump said he would appoint the venture capitalist David Sacks, an industry ally, as his “White House A.I. Tom Williams / CQ-Roll Call via Getty Images fileTrump during the campaign wooed crypto industry support in part by talking about debanking. Still, his comment prompted others to share personal stories about losing access to banking services with no explanation and despite having good credit. At least one bank industry trade group says debanking is a real issue — and one that’s caused by government regulators’ pressure.

Persons: Elon Musk, Marc Andreessen, Biden, debanked, ”, Joe Rogan, ” —, Musk, JPMorgan Chase, Donald Trump, Andreessen Horowitz, debanking, Rohit Chopra, Joe Biden, Trump, David Sacks, ” Sacks, Paul Atkins, Tom Williams, they’ve, Melania Trump, “, wouldn’t, Barron Trump, Donald Trump Jr, Ritchie Torres, cryptocurrency, they’d, ” Marisa Coppel, Rogan, Andreessen, Sid Kalla, Kalla, ” Kalla, Chase, Jamie Dimon, It’s, Sen, Kevin Cramer, ” Cramer, ” Donald Trump, Justin Sullivan, it’s, Obama, Sam Bankman, Paul Grewal, ’ ”, Banks Organizations: Netscape, Treasury Department, JPMorgan, Consumer Financial Protection Bureau, ”, debanking, The Free Press, PayPal, Securities and Exchange Commission, Republican National Convention, Getty, Trump, White House, Blockchain Association, Roll Labs, Turing Holdings, Chase, Labs, Bank Policy Institute, FBI, North Korean, Banking Act, NBC News, Justice Department, Federal Reserve, Federal Deposit Insurance Corp, FDIC, “ Locations: U.S, North Korea, Milwaukee, Nashville , Tennessee, America, New York, Brooklyn Heights, paychecks, North Dakota, Fargo, N.D

☆ Watch CNBC's full interview with Lead Bank CEO and chair Jackie Reses
▼ + stars: | 2024-12-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Lead Bank CEO and chair Jackie ResesLead Bank CEO, chair and co-founder Jackie Reses joins 'Squawk Box' to discuss the future of fintech, AI and crypto, impact of the second Trump administration, whether tech founders are being 'debanked', and more.

Persons: Jackie Reses, Trump Organizations: Lead Bank, Jackie Reses Lead Bank

☆ Lead Bank CEO Jackie Reses: Evolution of crypto will only add to the continuing evolution of banking
▼ + stars: | 2024-12-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLead Bank CEO Jackie Reses: Evolution of crypto will only add to the continuing evolution of bankingLead Bank CEO, chair and co-founder Jackie Reses joins 'Squawk Box' to discuss the future of fintech, AI and crypto, impact of the second Trump administration, whether tech founders are being 'debanked', and more.

Persons: Jackie Reses, Trump Organizations: Lead, Bank

But more recently, Republicans have signaled plans to defang the agency, and Trump has named authors of Project 2025 — which calls for eliminating the CFPB — to influential posts. It has clawed back nearly $20 billion in consumer relief and issued a litany of rules and guidance aiming to rein in financial institutions. The financial services industry bristles at many of these efforts. Buy now, pay later protectionsAs BNPL services skyrocketed in popularity during the pandemic, the agency quickly built guardrails around them. Removal of medical debt from credit reportsThis summer, the agency proposed banning medical debt from appearing on consumers’ credit reports.

Persons: Donald Trump, Sen, Elizabeth Warren, Trump, multibillionaire Trump, Elon Musk, ” “, ”, Adam Rust, Jesse Van Tol, “, Rohit Chopra, Michael A, McCoy, ” Lindsey Johnson, JD Vance, —, everyone’s, Mick Mulvaney, Trump’s, Oliver Contreras, Armen Meyer, Meyer, Chopra, Rob Bonta Organizations: Consumer Financial, Senate, White, NBC, Federal Reserve, Republicans, Consumer Federation of America, Community Reinvestment Coalition, Consumer Bankers Association, Biden, Trump, Apple, GOP, ” Agency, Agency, Consumer, overdrafts, Electronic, Washington Post, Reuters Locations: Wells, Washington, Colorado, New York, California

☆ Trump promotes family's new crypto platform, 'The Defiant Ones'
▼ + stars: | 2024-08-22 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Republican presidential nominee and former U.S. President Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, U.S., July 27, 2024. Former President Donald Trump on Thursday promoted a soon-to-launch, Trump Organization crypto platform, "The DeFiant Ones" to his 7.5 million followers on Truth Social . Within minutes, his son Donald Trump Jr., shared the post with his 12 million X followers. Trump's post includes a link to a Telegram channel called "The DeFiant Ones," which had approximately 29,000 followers as of Thursday morning, and climbing. In May, he became the first major presidential nominee to accept cryptocurrency donations, and in July, the Republican presidential nominee headlined the biggest bitcoin event of the year in Nashville, Tennessee.

Persons: Donald Trump, Trump, Donald Trump Jr, Eric Trump, Donald Jr, Eric, Kamala Harris, Trump's Organizations: Trump Organization, Truth, Republican, Trump, New York Post, Trump senior, Solana Locations: Nashville , Tennessee, U.S, cryptocurrency

☆ UK Regulator Finds No Evidence of Politicians Being 'Debanked' Over Views -FT
▼ + stars: | 2023-09-18 | by ( Sept. | At P.M. | ) www.usnews.com time to read: 1 min

(Reuters) - A review by the UK's financial regulator shows no evidence that politicians are being denied bank accounts because of their views, the Financial Times reported on Monday, citing people briefed on the findings.

Organizations: Reuters, Financial Times

"The culture wars are coming to UK businesses, including the financial sector," said Andre Spicer, dean of City University's Bayes Business School. It also cited "risk factors including... controversial public statements which were felt to conflict with the bank's purpose". However, data from watchdog the Financial Ombudsman Service showed complaints about account closures represented a tiny fraction of a bank's overall customer base. Experts say other banks will now be scrambling to ensure their own policies and committees are behaving appropriately, to avoid further scandals. The CEO of Britain's biggest domestic bank Lloyds said on Wednesday the bank's own policies did not include looking at customers' political or personal beliefs.

Persons: Nigel Farage, Coutts, Andre Spicer, Howard Davies, Alison Rose, Rose, Peter Flavel, Charles Dickens, Queen Elizabeth II, Spicer, Harriet Baldwin, Bill Winters, Samuel Gregg, Banks, Gregg, University's Spicer, Rupert Younger, ", Sinead Cruise, Iain Withers, Lawrence White, Daniel Wallis Organizations: Brexit Party, NatWest, Bayes Business School, Coutts, Treasury, Bank of England, BBC, Standard Chartered, Farage, American Institute for Economic Research, Facebook, Financial, Service, Barclays, Lloyds, Centre, Oxford University's Said Business School, Thomson Locations: America

LONDON, July 4 (Reuters) - British banks should have to serve a customer even if they disagree with his or her lawful political views, and should apply anti-money laundering checks proportionately, financial services minister Andrew Griffith said on Tuesday. Griffith was asked about his views on recent issues around banking services for politicians and other 'politically exposed persons' by the House of Lords' Economic Affairs Committee, which did not name Farage directly. Griffith said Britain's Financial Conduct Authority (FCA) now had powers under a new financial services law approved last week to revisit these rules. "The second thing that we've asked is that the FCA look at creating a domestic politically exposed persons (category) to reflect the lower category of risk associated with those whose affairs are wholly domestic," Griffith said. Reporting by David Milliken, Editing by Huw Jones and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Griffith, Nigel Farage, Coutts, Griffith, it's, David Milliken, Huw Jones, Mark Potter Organizations: Brexit Party, NatWest, Economic Affairs Committee, Authority, FCA, Thomson

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