California SVB Supervisor Says Fed Mostly To Blame
The state regulator for several failed and troubled banks, California’s Department of Financial Protection and Innovation (DFPI), has now released its own SVB post-mortem, blaming the Fed far more than it blames itself.
Senate Progressives Push For Card Late-Fee Restrictions
Sens. Warren (D-MA), Brown (D-OH), and six other progressive Democrats today sent a letter to the CEOs of large credit-card issuers strongly protesting the industry’s recent defense of credit-card late fees. As detailed in our analysis (see FSM Report CREDITCARD36), the CFPB has proposed structural changes in what it characterizes as “junk fees,” an initiative the senators strongly endorse.