When harmed, the average #consumer often doesn’t have the #money to defend themself. Hiring an attorney is expensive. Rooting out deceptive predatory practices should be left to the #government, not a family trying to make ends meet.
Remember the Great #Recession?
During his first term, #Trump was hell-bent on eviscerating the authority of an agency that #Congress authorized to protect #consumers after the 2008 financial crisis. His choice to lead the agency in 2017 signaled his disdain: Mick Mulvaney, a fmr congressman who voted to abolish the #CFPB.
…But consumers needed then — & need now — a powerful advocate.
#Trump & #ElonMusk are working to decimate the Consumer Financial #Protection Bureau [#CFPB].
In early Feb, Musk posted “CFPB RIP,” …with a gravestone emoji.
Musk’s death march has begun. The number of #consumer complaints being processed by the bureau is significantly down, & several lawsuits against #financial companies were recently dropped.
#law #economy #regulation #banks #credit #loans #mortgages #foreclosures #debt #housing #markets #DOGE #USpol
https://www.washingtonpost.com/business/2025/02/28/trump-cfpb-enforcement/
#mastodon #politics Like look at this! “#Trump made #KristiNoem spend $200million in taxpayer money on ad thanking him” This “ad” is just utterly disgusting to even look and hear and that is our TAXPAYER MONEY THAT WE PAID! #maga will forever be remembered as the #cult who brought back the #nazis and are loving it. Please keep reaching out to your representatives and never let up! We need people like you to continue letting your voices heard! #credit Jesse Dollemore https://youtu.be/7ZvPMn9egl8?si=rBI52cBxEt73hUYG
The #USTreasury data has been compromised (if not, it's pretty damn close) so here's a #PSA:
FREEZE YOUR #CREDIT REPORTS.
NOW.
The #Treasury data is either going to be sold to thieves or used to f people over because that's what Those People do.
Lock your credit down before you get calls from collection agencies wondering why you haven't made any payments on [something] you didn't know you bought. If your credit can't be freely checked, they can't open new lines of credit to buy swastikas on Etsy or whatever the f they buy.
https://bricksandclicks.marketing/security/how-to-freeze-your-credit-reports/
I got one of those unsolicited credit card offers in the mail. There is an opt-out phone number that supposedly stops these offers for 5 years from all 3 credit reporting companies. The recording gives some generic company name. #credit #creditcards #experian
But it wants me to provide my social security number.
I feel uncomfortable providing my #SSN to an automated line
Has anyone used this opt-out method? Is this legitimate? #IDtheft #junkmail #ConsumerProtection
#mutualaid request
part of the reason I've been #struggling financially is that I'm in $10k of consumer #debt, more than half of it at 30% interest. 2/4 of my accounts are over their limit.
my goal is to pay these cards off, bring my #credit score up, and finally start #saving. it's been scary having a #newborn + no safety net.
if you'd like to help me pay more than the minimums this month—it'll be an important first step!
cashapp/venmo
natsmith89
paypal.me/natoleander
https://www.visualcapitalist.com/mapped-the-average-credit-card-debt-in-every-u-s-state-2024/
This debt picture is not good. It shows how Americans have become reckless for decades. Granted, the average income in the US is pretty high and the debt amount is a small fraction. But that is not the real story here. First of all, the average is skewed by ultra wealthy folks. Secondly, the average debt is also skewed -- lower income folks have higher debt.
Barring extraordinary circumstances for people falling into hard times, I believe most of them incur debt by choice with borrowed luxury they could avoid.
Contrary to popular thinking, less spending in unnecessary purchases actually strengthen the economy by those people investing their surplus cash.
I know it sounds ridiculous to a lot of people; they cannot deprive themselves of the nicer things in life when they are easy to get by flashing a piece of plastic. But I had nothing inherited, not a penny. I had to earn everything the hardest way possible for me. Even tolerating indignation of my own family when I had less money to spare. There are a lot of us growing up like me. I won't understand the psychology of spending on borrowed money that I am unable to pay back each month.
#debt #credit
The #HongKong #Export #Credit #Insurance #Corporation (#HKECIC) and Hong Kong #Trade #Development Council (#HKTDC) released a joint #study titled “Unleashing the Lucrative #Potential of #CrossBorder #Ecommerce for Hong Kong #Traders”. The research underscores the immense #growth potential of cross-border e-commerce while addressing the #challenges #businesses face. https://cnbusinessforum.com/hong-kongs-cross-border-e-commerce-a-catalyst-for-global-trade-growth/
"Je ne trouve pas ça correct" : la technique bien rodée des #banques pour inciter au #crédit à la #consommation
https://www.tf1info.fr/conso-argent/video-credit-conso-je-ne-trouve-pas-ca-correct-la-technique-bien-rodee-et-douteuse-des-banques-pour-inciter-au-credit-a-la-consommation-2327471.html
Credit card 
Number : 6578756947725988
Exp date: 5/30
CVV: 300
Credit card
Number : 5340736247835694
Exp date: 9/26
CVV: 005
#credit #viral #fast #filpboard
#Patelco #Credit #Union data breach impacted over 1 million people
https://securityaffairs.com/169139/cyber-crime/patelco-credit-union-data-breach.html
#securityaffairs #hacking #databreach
#DonaldTrump Has Run Into #MoneyProblems Due To The #Cost Of His #Rallies
These #unresolved #debts aren't just a #burden for #city #governments; they also negatively impact the #taxpaying #residents of those #municipalities
— No City should be giving Trump any #credit, they should be demanding to be #paidupfront for their share of the #expenses related to his #propaganda #rallies.
https://www.thelist.com/1672673/donald-trump-facing-money-problems-due-to-rally-costs/
I'm not worried about the disappearance of cash from our daily lives, so long as debit and credit cards are secure against hackers and thieves.
What bothers me is the number of small businesses forced to set a high(ish) minimum purchase for goods, because of the high cost of processing payments set by the banks and their intermediaries.
If contactless payment is the normal way for the future, then it needs to be cheap or free of charge to the customer.
722 Seconds of refusal to acknowledge #Greedflation as the core Symptom and #SystemChange being necessary!
"The Commonwealth Bank has set the standard for banking in a climate crisis: it will no longer offer services to companies without a serious transition plan to net zero."
Bernard Keane: https://www.crikey.com.au/2024/08/15/commonwealth-bank-australia-santos-fossil-fuel-funding/
As part of the #CommonPlace series on tenure, promotion, and recognition I wrote a short essay on:
Valuing a broad range of research contributions through Team Infrastructure Roles: Why #CRediT is not enough
Link: https://doi.org/10.21428/6ffd8432.f92deec7
Full series: https://commonplace.knowledgefutures.org/32-recognition-and-rewards
Many thanks in particular to the series editors: @juancommander and @OpenAccessElder
