The official lifting of sanctionson Russian diesel through April 2027. ofac.treasury.gov/media/937216...
graham steele
@grahamsteele.bsky.social
Assistant Professor, UNC School of Law. Teaching and writing about financial and corporate law. Former Assistant Secretary, US Treasury Department & Democratic chief counsel, Senate Banking Committee. https://law.unc.edu/people/graham-steele/
Russia is one of the few benefactors of the war with Iran. It has received repeated sanctions relief allowing it to sell more fossil fuels.
FinTwitter@fintwitter.bsky.social · 3h agoUS Treasury: Office of Foreign Assets Control (OFAC) is immediately issuing a temporary general license to allow the supply of Russian diesel to the global market.
Surprising almost no one, the White House is continuing its bad faith campaign to remove Fed Governor Lisa Cook on flimsy allegations of mortgage “fraud.”
Financial Times@financialtimes.com · 7h agoDonald Trump launches committee to investigate Fed governor Lisa Cook ft.trib.al/5HFccbH
The Treasury Department has announced that Judy Shelton is now a counselor to Secretary Bessent. During the first Trump administration Shelton’s nomination to the Fed stalled because views were too extreme for even Senate Republicans. www.politico.com/news/2026/10...
Bessent taps former Trump Fed pick Shelton to advise on China
Judy Shelton has been a longtime advocate for tying the dollar’s value to gold, a policy the U.S. fully abandoned in 1971.
politico.com
www.bloomberg.com/news/article...
FTC Probes Block After Consumer Complaints Over Frozen Accounts
The Federal Trade Commission is investigating whether Block Inc., the parent of Square and Cash App, violated US consumer protection laws by failing to provide adequate customer service to help with f...
bloomberg.com
One reason it’s unwise to make any ex ante commitments about the scope of future oversight investigations is that we don’t yet know the full breadth and depth of the corruption.
Daniel Drezner@dandrezner.bsky.social · 2d agoUPDATE: holy shit. www.wsj.com/politics/pol...
It's an obvious point, but fair lending laws were enacted to ensure members of protected groups can access financial products and services, in response the legacies of redlining. Another example of this administration taking a law meant to protect certain groups and turning the law on its head.
The Wall Street Journal@wsj.com · 2d agoExclusive: Wells Fargo is under regulatory investigation over whether its programs aimed at increasing Black homeownership violated fair-lending laws.
The economic agenda is riding on his shoulders—and tempers are flaring. Inside Scott Bessent’s Treasury. on.wsj.com/4y26lOn
The economic agenda is riding on his shoulders—and tempers are flaring. Inside Scott Bessent’s Treasury.
Ahead of midterms that could turn on high prices and borrowing costs, the secretary dresses down officials.
on.wsj.com
I think I speak for everyone when I say “It is good the Yankees lost” and also “haha Yankees”.
“Democracy has been hailed as, like, the holy grail for the last couple hundred years, but democracies are inefficient,” said the crypto billionaire. “If you get a benevolent dictator, it’s actually extremely efficient." Hmm, where have I heard this before? www.nytimes.com/2026/10/01/b...
Inside a Billionaire’s Paradise With Crypto’s Most Powerful Ex-Convict (Gift Article)
Changpeng Zhao, jailed in the United States for a financial crime and pardoned by President Trump, is now living a gilded life in the United Arab Emirates.
nytimes.com
One handed catch in the end zone for Efton Chism III, Pats take the lead back
The purported logic of this statement is truly baffling. Powell, who has protected the Fed independence's from President Trump's political pressure, should demonstrate the Fed's independence by resigning in response to President Trump's political pressure? What?
Bloomberg News@bloomberg.com · 5d agoPresident Donald Trump’s chief economic adviser called on former Federal Reserve Chair Jerome Powell to leave the central bank’s board after an internal report cited management failures in the renovation of its headquarters.
"The plaintiffs are suing to restore visitation rights and ask a court to force the county to disgorge the hundreds of thousands of dollars in profits it has made from video calls." www.nytimes.com/2026/09/30/u...
Families of Inmates Fight Against Jails That Profit From Visits
nytimes.com
The National AI Charter Act draws on financial regulation as a model. @grahamsteele.bsky.social recently wrote about the important lessons to be learned from banking, and that we'll need much more to ensure democratic control over these powerful technologies.
Financial Crises Teach Us That AI Self-Regulation Must Not Replace a Broader Regulatory Framework - Roosevelt Institute
Graham Steele looks to lessons from financial regulation to examine whether self-regulatory organizations can help govern AI—and where democratic oversight must take the lead.
rooseveltinstitute.org
News - Trump is set to attend another dinner at his resort for the biggest buyers of his meme coin You can probably get in to see the president for $1 million Trump has pocketed $635 million Investors down +$4 billion on Trump crypto www.washingtonsun.com/whitehouse/t...
Want Dinner With the President? Buy His Meme Coin.
The $Trump meme coin is offering buyers a new "exclusive" opportunity to meet the president.
washingtonsun.com
I don’t know, I like to think if I were one of the six people who cleared the way for this debacle I might take some time to reflect on it. And maybe even consider changing my position on the constitutionality of capital punishment.
Melissa Gira Grant@melissagiragrant.com · last wk.Press release I woke up to, on Christa Pike’s condition (sent 9/30 at 11:36pm ET)
Sen. Elizabeth Warren statement on the IG report on the Fed's building project doesn't hold back:
Watchdog finds deficiencies but no Fed misconduct in Powell-era renovation project reut.rs/3U26pzI
Watchdog finds deficiencies but no Fed misconduct in Powell-era renovation project
The Federal Reserve's Inspector General on Wednesday said it found no grounds for a criminal referral or administrative misconduct tied to cost overruns in a US central bank renovation project that had drawn scorn from President Donald Trump and an investigation of former Fed chief Jerome Powell.
reut.rs
The Fed today voted to weaken its bank stress testing regime. I disagree with the substance of the rule, but I want to focus on Governor Barr's dissenting vote. By my count, that's 14 dissents of the 47 rule or order votes taken by the Fed this year. No one else is anywhere close.
Federal Reserve@federalreserve.gov · last wk.@federalreserve.gov finalizes changes to enhance the transparency and public accountability of its stress test and reduce volatility in its stress test-related capital requirements: www.federalreserve.gov/newsevents/p...
The Treasury Department must prove to a federal judge that it is distributing $289 million Congress pegged for community lenders despite its assurances in previous court filings that the money will go out the door.
Treasury Must Show Judge $289 Million Sent to Community Lenders
The Treasury Department must prove to a federal judge that it is distributing $289 million Congress pegged for community lenders despite its assurances in previous court filings that the money will go out the door.
bit.ly
More specifically, Iran uses *crypto* to fund terrorism around the world. But it’s issued by a company that the Commerce Secretary is invested in so they’re probably not going to do anything about it. www.wsj.com/finance/curr...
Exclusive | Senate Investigation Finds Rampant Use of Tether’s Stablecoin by Iranian Regime
Wallets sanctioned over Iran ties overwhelmingly dealt in Tether’s USDT stablecoin, according to Senate Democrats.
wsj.com
FinTwitter@fintwitter.bsky.social · 2w agoRubio to Fox News: Iran uses its money to fund terrorism around the world
I've come to believe the role of finance is under-theorized in the recent neo-Brandeisian framework. There's been some focus on asset managers and private equity, but less on investment banking and syndicated lending driving consolidation and other concerns raised by the antitrust school.
Chris Whittall@chriswhittall.bsky.social · 2w agoParamount Skydance lines up record-breaking $44bn bond sale www.ifre.com/bonds/249158...
Exclusive: Citigroup has tapped crypto company Coinbase Global to help the bank’s big clients take stablecoin payments from customers.
Exclusive | Citi Expands Digital-Assets Footprint With Coinbase Partnership
Coinbase, the largest U.S. crypto exchange, will provide the digital rails enabling the bank’s corporate clients to make payments with stablecoins.
on.wsj.com
On Friday, Trump regulators brought the hammer down on Old Glory, an 'anti-woke' bank founded by Ben Carson, Larry Elder, and country singer John Rich. Old Glory is classified as 'severely undercapitalized' and regulators have restricted its ability to grow. www.americanbanker.com/news/old-glo...
Old Glory Bank is 'severely undercapitalized,' FDIC says
The Republican-led bank, which touts itself as "pro-America," has struggled to turn a profit. The Federal Deposit Insurance Corp. said Old Glory failed to respond to a prior warning about capital defi...
americanbanker.com
Is an Agentic Bank Run Coming? AI assistants are about to auto-sweep cash from 0.1% checking accounts into 5% yields. If everyone adopts them, banks lose their cheap deposit base... risking a systemic crunch. Torsten at Apollo .. I use $BOXX
