a job well done and a perfect example of personnel is policy

The Consumer Financial Protection Bureau was poised to sue Meta over allegedly abusing targeted ads when Rohit Chopra, the former director, was ousted this month. Will Trump’s pick for the CFPB drop the case against Facebook? 🧵

Rohit Chopra: Capital One was just given a corporate pardon

worth noting that the viral, Trump-critical JP Morgan investment note contains this nugget, which claims that the DOJ’s willingness to enforce the Google antitrust case “may be negatively affecting sentiment”

This conclusion is spot on. There is no way to square the Capital One-Discover merger with the 2023 Merger Guidelines. This puts the Fed and OCC in a tough spot. They either have to deny the merger or approve the deal over the DOJ's objection - and risk a DOJ lawsuit.

A very disappointing and wrongheaded decision. I'm a broken record on this, but the Biden bank regulators really screwed up by not blocking this deal when they had the chance.

“The game has changed. It’s time our strategy did too.” Important piece from Jeremy Kress and Seth Frotman

In the last 25 years, ever major industry-supported change to financial rules has contributed to a crisis in short order. Gramm-Leach-Bliley (repeal of Glass-Steagall) and the Commodities Futures Modernization Act each helped lead to the 2008 financial crisis. The Economic

thank you Bank Policy Institute