THIS ISSUE👇 of whether trust charters can be used as de facto bank charters (including making loans + obtaining Fed master accounts) at only 10-15% of the capital requirement of a bank is very likely to be litigated. Interesting reaction by the bank trade associations to fight👇—if what they fear will happen ends up happening, then why wouldn’t banks just convert to trust companies & keep their existing businesses at a small fraction of the capital requirements & regulations??🤔

If you’re American and don’t have a backup passport/residency, you’re cooked

I don’t typically curse, but this is fucking deeply stupid and deeply misguided

The call is coming from inside the house.

Glad to see Elon has fixed the spam problem finally!

PACER and FOIA should be free

Anytime someone talks about applying "first principles" thinking to banking, I shall send them this footnote:

Instead of, you know, governing, our elected representatives are tweeting memes and pumping bitcoin. SAD!

California banking regulator appears to be investigating fintechs that worked with failed middleware provider Synapse and its troubled bank partner, Evolve:

This is from Jamie Dimon's 2024 shareholder letter. Weirdly, the bank doesn't ask consumers for permission to furnish their data to credit bureaus, which the bureaus use "for their own purposes and profits"