Wall Street and Trump are about to kill the CFPB, the only government agency that effectively polices bank scams, crimes and frauds

The Consumer Financial Protection Bureau (previously) is practically the only US regulator we can be proud of — founded by Elizabeth Warren before she ran for the Senate, the CFRB is a consumer protection agency that has been at the forefront of reining in criminal activities like Wells Fargo's nationwide frauds and Equifax's dox attack on the USA, as well as being the best defense Americans have against predatory loan-sharks masquerading as "payday lenders," abusive debt-collectors, racial discrimination in lending, and the student loan racket.

Banks have returned to the pre-2008 world of automatic credit-limit increases for credit cards used by already indebted people

"Proactive credit line increases" (PCLIs) are when your credit card company increases your credit limit without your asking for it; it was very common prior to the 2008 crisis, but the post-crisis rules largely put a stop to it. Now, banks have figured out regulatory loopholes that allow them to throw PCLIs at their most vulnerable customers, leading to record-high national levels of credit-card debt of $880b as of last September, higher than the pre-crisis high.

Rep Katie Porter: an Elizabeth Warren protege and single mom who destroys bumbling, mediocre rich guys in Congressional hearings

In 2018, Katie Porter flipped a Republican safe seat — it had literally never been held by a Democrat– in California's 45th District, and since then, she has been a delightful, brilliant terror of a lawmaker, using her deep background in finance law (she's a tenured finance law prof at UC Irvine who literally wrote the textbook on consumer finance law in the wake of Dodd-Frank and Elizabeth Warren's establishment of the Consumer Finance Protection Bureau).

Elizabeth Warren profile: portrait of a savvy politician who appeals to working people, and who can get stuff done

Sheelah Kolhatkar's 10,000 word New Yorker profile of Elizabeth Warren is mostly a "color piece," giving a sense of where Warren is coming from, personally and politically; as such, it's a good read, but mostly redundant if you've already read Warren's (very good) 2018 book This Fight Is Our Fight: The Battle to Save America's Middle Class; that said there's a couple of key political insights that are very timely for anyone trying to figure out whom to support in the Democratic presidential primary (I am a donor to both Warren's and Sanders's primary campaigns).

Payday lenders switched their trade show to a Trump hotel and sent Trump at least a million bucks, then he gave them carte blanche to make billions preying on poor people

The payday lending industry is the pinnacle of predatory, corrupt capitalism, unabashed loan sharks who prey on the poorest and most desperate Americans, charging interest rates in the hundreds and even thousands of percent APR, using strongarm tactics including threats of violence and rape to collect on debts, and papering over the whole thing by flooding notice-and-comment proceedings with bot-generated comments and secretly bribing academics to write papers explaining that usury is a social good.

Elizabeth Warren's anti-corruption bill bans foreign lobbyists, subjects domestic lobbyists to strong oversight

Newt Gingrich's 1995 Republican Revolution dismantled all the expert departmentsand bureaus that Congress depended on to make sense of the world, making lawmakers dependent on corporate lobbyists to advise them on everything from pollution to food safety to military technology to mass surveillance — nearly 25 years later, Washington DC is a literal and figurative swamp, and only 18% of Americans say they trust Congress.

Trump's "consumer protection bureau" will let the $50B payday lending industry gouge the poorest Americans with triple-digit interest rates

The Consumer Financial Protection Bureau, founded by Elizabeth Warren prior to her career as a senator, was once the gem of the US political system, a consistently effective force for punishing finance industry wrongdoing, until Trump let Wall Street robber barons loose on it, under the direction of a lawyer who represented loan sharks before going to work for the Trump administration.

Trump appointed a loan-shark fixer as an assistant Attorney General, who then wrote a controversial memo justifying the neutering of the consumer finance watchdog

The Consumer Financial Protection Bureau is a rare gem in the US financial regulatory apparatus, a regulator that actually tackles fraud and criminality by monied, powerful financial institutions, exacts meaningful penalties from them, and forces them to stop. They're one of the only things standing between you and highway robbery.

Those "heroic rogue GOP senators" just helped Trump shield Equifax and Wells Fargo from lawsuits

Senators Bob Corker, Jeff Flake and John McCain talk a big game about not letting the GOP be the handmaiden of trumpist corruption, but when the chips were down last night, they voted with their party and a tie-breaking vote from Vice President Handmaid's Tale to pass legislation that lets financial institutions take away your right to sue them when they defraud you.