Email shows Trump officials are lying to federal court, directing CFPB staff to ignore law

An email sent Monday by a Trump administration official, obtained by Popular Information, explicitly instructs federal employees at the Consumer Financial Protection Bureau (CFPB) to not carry out activities mandated by law.

Democracy Now! on Instagram: "The collapse of Silicon Valley Bank and Signature Bank are the largest bank failures since the 2008 financial crisis, which prompted lawmakers to pass legislation to increase regulations on banks and other financial institutions. But during the Trump administration, a number of Democrats joined Republicans in Congress to weaken laws including Dodd-Frank, the landmark regulatory reform passed in the wake of the crisis. Among those executives is Barney Frank himself, who joined the board of Signature Bank after leaving Congress, where he co-authored the Dodd-Frank bill. His involvement on both sides of this latest crisis is one of the clearest demonstrations of the revolving door between industry and regulators."

14K Likes, 779 Comments - Democracy Now! (@democracynow) on Instagram: "The collapse of Silicon Valley Bank and Signature Bank are the largest bank failures since the 20..."

The Death of Dodd-Frank: Banking Law's Dobbs Moment - Credit Slips

Last year, I savored a bit of schadenfreude watching my con law scholar colleagues despair about their field after cases like Dobbs v. Women's Health Organization or West Virginia v. EPA. Con law scholars see themselves as the royalty of...

Lobbyists pushed changes blamed for contributing to collapse of Silicon Valley Bank and Signature Bank

A handful of red-state Democrats were instrumental in helping Republicans secure a rollback of banking regulations sought by then-President Donald Trump in 2018. Now those changes are being blamed for contributing to the recent collapse of Silicon Valley Bank and Signature Bank that prompted a federal rescue and stoked anxiety about a broader banking contagion. The rollback was leveraged with a lobbying campaign that cost tens of millions of dollars and drew an army of more than 1,000 lobbyists into the effort. It also was seeded with ample campaign contributions. It offers a fresh reminder of the power that bankers wield in Washington, where the industry spends prodigiously.

Biden Administration Must Finalize Rule on Bank Executive Pay

Lobbyists pushed changes blamed for contributing to collapse of Silicon Valley Bank and Signature Bank

A handful of red-state Democrats were instrumental in helping Republicans secure a rollback of banking regulations sought by then-President Donald Trump in 2018. Now those changes are being blamed for contributing to the recent collapse of Silicon Valley Bank and Signature Bank that prompted a federal rescue and stoked anxiety about a broader banking contagion. The rollback was leveraged with a lobbying campaign that cost tens of millions of dollars and drew an army of more than 1,000 lobbyists into the effort. It also was seeded with ample campaign contributions. It offers a fresh reminder of the power that bankers wield in Washington, where the industry spends prodigiously.

The Biden administration has the power to stop bank CEOs from creating the next SVB. They just need to use it.

A provision in the Dodd-Frank law could have held SVB CEO Gary Becker accountable — and maybe kept Silicon Valley Bank solvent.