Tessera

What's the latest with bankrupt online payday lender CashCall? My colleague James Nani has you covered. news.bloomberglaw.com/bankruptcy-l...

CashCall Granted Steeply Reduced Insider Bankruptcy Loan

Subprime lender CashCall Inc. was allowed a drastically reduced draw on a bankruptcy loan after a Justice Department unit and the Consumer Financial Protection Bureau argued the deal benefits the comp...

news.bloomberglaw.com

Every Film Now@everyfilmnow.bsky.social · 2w ago

And now, I will focus on my "Casablanca."

Final trailer for ‘COYOTE VS. ACME’ has been released. In theaters August 28. #CoyoteVsAcme

Brian Johnson, Trump's nominee to lead the CFPB, said he intends to follow the law and will make his own staff size determinations. But he was asked if he disagreed with any of Russ Vought's decisions. "None come to mind at the moment," he said. news.bloomberglaw.com/banking-law/...

Trump’s CFPB Pick Johnson Grilled on Capital One, Staffing Plans

President Donald Trump’s nominee to lead the Consumer Financial Protection Bureau vowed to “faithfully execute the law as written” if confirmed to lead the embattled agency, but he declined to say how...

news.bloomberglaw.com

The New York Times@nytimes.com · 2w ago

I think this is how 1977's "Orca" ends, but instead of a sunfish it's Richard Harris on an ice floe that gets obliterated.

Marine biologists in Mexico captured video of the brutal way that killer whales hunt sunfish. With an unusual maneuver, the orcas pulverize the giants. nyti.ms/4whZsZ8

In just a few minutes the Senate Banking Committee is going to hold a confirmation hearing for Brian Johnson, President Trump's nominee to lead the CFPB. If you're into that sort of thing. www.banking.senate.gov/hearings/07/...

Donald Sutherland in Animal House: This Is My Job

ALT: Donald Sutherland in Animal House: This Is My Job

static.klipy.com

The OCC and the FDIC are working on a proposal that would mean a lot fewer banks have to undergo the most stringent Community Reinvestment Act reviews. You'll notice the Fed isn't on that list. What year is it? New from me: news.bloomberglaw.com/banking-law/...

OCC, FDIC to Propose Easing Anti-Redlining Rule for Small Banks

US bank regulators are looking to slash the number of lenders that have to comply with the toughest standards of a key anti-redlining law.

news.bloomberglaw.com

I'm no accounting expert, but getting your accounting compared to Enron seems...not great. Fortunately Amanda Iacone is an accounting expert (follow her on LinkedIn. I don't think she's here), and she and our graphics team explain it well.

Big Tech AI Spree Revives Accounting Devices That Toppled Enron

Accounting rules for off-balance-sheet entities, like the ones Big Tech giants are using to finance AI data centers, have evolved since Enron's collapse 25 years ago. But they still run the risk of pr...

news.bloomberglaw.com

Defector@defector.com · 3w ago

I punched my friend after he dragged me to Batman & Robin. I didn't punch that same friend after he dragged me to the Matrix: Reloaded, but I considered it. I'm not going to count kids' movies, because I'm a champion sleeper. Except Tron: Ares. I now refuse to watch anything with Jared Leto.

What's the worst movie you've ever watched in a theater? defector.com/whats-the-wo...

This is the bolo tie of someone who is retiring. Magnificent.

Sen. Jim Banks (R-Ohio) asks Russ Vought about shipbuilding at this hearing on his work at the CFPB. We're now listening to a discussion of the Finland model.

Finnish Fan Cheers at IIHF Hockey Game

ALT: Finnish Fan Cheers at IIHF Hockey Game

static.klipy.com

Right now, Russ Vought is appearing before the Senate Banking Committee to talk about his time atop the CFPB. Elizabeth Warren is up next in the question order, if you're into that sort of thing. www.banking.senate.gov/hearings/the...

The CFPB Semi-Annual Report: A New Day at the CFPB Through Reform | United States Committee on Banking, Housing, and Urban Affairs

The Official website of The United States Committee on Banking, Housing, and Urban Affairs

banking.senate.gov

The Office of Financial Research was hit with a second reduction-in-force order in the spring. It was particularly chaotic! So I took some time to look at its diminished past and even more diminished future. news.bloomberglaw.com/banking-law/...

Trump Cuts Hit Diminished Treasury Unit Tracking Financial Risks

The Trump administration has slashed the staff of a Treasury Department office charged with monitoring new threats and systemic risks across the US financial system, but the agency was largely sidelin...

news.bloomberglaw.com

"This administration has the highest ethical standards," Vought says in response to questions about Trump's crypto boon. Laughter ensues at the House Financial Services Committee.

If you're interested, acting CFPB Director Russell Vought is appearing before the House Financial Services Committee right now. financialservices.house.gov/calendar/eve...

Hearings | U.S. House Committee on Financial Services

financialservices.house.gov

Bloomberg Law@bloomberglaw.com · 3w ago

I don't think she's on here, but our intern Natalie Weger went to the CFPB's new headquarters on DC-area return to office day. Here's her dispatch. Natalie's great and all of you should watch out for her future work.

Workers filed into the Consumer Financial Protection Bureau’s new headquarters Monday morning, marking their first day back in office after the Trump administration froze most of their work last year and as it pushes to lay off about half of the employees who remain.

Ben Penn @benjaminpenn.bsky.social · 4w ago

Scoop: Trump DOJ to drop charges for alleged $722M crypto Ponzi schemer, just before trial. BitClub mastermind said he'd built scam on backs of "idiots" & "sheep." He hired Trump-connected lawyers to lobby DOJ HQ for relief, overruling NJ prosecutors. news.bloomberglaw.com/us-law-week/...

US to Drop Charges for Alleged $722 Million Crypto Ponzi Schemer

Justice Department leaders plan to drop charges against the alleged mastermind of a cryptocurrency Ponzi scheme that prosecutors said defrauded investors of $722 million, reversing course on a 2019 in...

news.bloomberglaw.com

Evan Weinberger @reporterev.bsky.social · 4w ago

Me to intern: Yeah, these mortgage rules are complicated. But if you remember the 2008 financial crisis it all kinda makes sense. Intern to me: I was 4.

I hadn't thought much about insuring artificial intelligence. But companies face a big problem if insurers adopt broad exclusions that would bar coverage for all AI-related claims, my colleague Randi Love reports. news.bloomberglaw.com/insurance/in...

Insurer AI Exclusions Spark Policyholder Alarm on Coverage Gaps

Companies that develop or use AI-generated content will likely either find themselves on the hook for any related litigation or regulatory probes or paying through the nose for insurance coverage as c...

news.bloomberglaw.com

The CFPB gave staff outside of DC two weeks to decide whether they'll move to Washington (and face a potential reduction in force order after doing so) or leave their jobs. Happy Fourth! New from me: news.bloomberglaw.com/banking-law/...

CFPB Gives Workers Two Weeks to Decide Whether to Move to DC

Consumer Financial Protection Bureau employees based outside of Washington have two weeks to decide whether they will report to the agency’s new headquarters or lose their jobs.

news.bloomberglaw.com

Hey! This stinks!

io9@io9.com · last mo.

Netflix Is Doing a Willy Wonka Reality Show, With an AI Gene Wilder Voice

We killed a beloved celebrity when I worked at a cable TV outlet one weekend back in 1999. It was very embarrassing when his family called to say that he was still alive. Just sayin'.

I'm on a press call with an industry group and the amount of words they're using to explain why the Cook decision came out one way and Slaughter came out the other is, well, it's a lot of words.

Chris Geidner@chrisgeidner.bsky.social · last mo.

Every agency, save the Fed, is the CFPB now. Have fun, everyone.

BREAKING: The Supreme Court, 6-3, overrules Humphrey's Executor, giving the president broad firing powers over the leadership of federal agencies and limiting Congress's power to limit presidential firings. In a 5-4 decision, however, the court said the Federal Reserve is likely different.