Adam Rust

Advocate for consumer financial protections. Director of Financial Services, Consumer Federation of America. Otherwise, reading + working on my serve. OmO!

[Adam Rust @AdamRust9]

This is still one of the best accounts I've read on what it feels like to get stuck in a #paydayloan app #debttrap. https://t.co/UPLkCBeeU5 @NCLC4consumers @CRLONLINE @danielkolitz

[Adam Rust @AdamRust9]

@RepSylviaGarcia: #HR1653 "will tip off wrongdoers." Thank you! #DefendCFPB

[Adam Rust @AdamRust9]

#𝐇𝐑𝟕𝟖𝟔𝟔 𝐢𝐬 𝐚�� 𝐚𝐧𝐭𝐢-𝐚𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐛𝐢𝐥𝐥. It undermines state interest rate protections, helps high-cost lenders impose triple-digit rates, and adds thousands of dollars to the annual cost of borrowing. Congress must vote NO. #StopTheDebtTrap

[Adam Rust @AdamRust9]

@SenWarren Thanks for raising concerns about this unprecedented change in activities permitted for national banks.

[Adam Rust @AdamRust9]

The solution to the regulatory gray zones around #BaaS, let alone problems like #Synapse that occurred within them, will not be found by granting the space more privileges. Light touch #fintech #KYC facilitates #scams. https://t.co/AeITmhxRdR

[Adam Rust @AdamRust9]

If regulators grant banking #charters to 10 #fintechs, and 3 fail within 3 years, is that a net positive? Or 2, or 4? That is the question. How much risk is acceptable?

[Adam Rust @AdamRust9]

@royalsreview Except the fixed Cole Ragans. And developed Kris Bubic and Noah Cameron. Didn't interfere with Brady Singer. Pitching is hard. Every team struggles. Prospects are never sure things.

[Adam Rust @AdamRust9]

Literally, I have heard from banks that they are scared about having an #SPCP, or even not calling in existing loans. For opponents of "regulatory overreach," the #CFPB's radical #ECOA final rule is a prime example of a regulator telling banks how to lend. https://t.co/yndOHwxQVH

[Adam Rust @AdamRust9]

So, OpenAI is buying a personal financial management tool (#pfm). Wouldn't it be nice if there were a rule giving people personal #financial data rights? Like a #cfpb #Section1033 rule? https://t.co/HoywoSPfis

[Adam Rust @AdamRust9]

@SasquatchVinnie D

[Adam Rust @AdamRust9]

To the @WhiteHouse claim that the #CFPB costs consumers billions... the cost of regulation is: your car comes with brakes, those brakes meet safety standards, someone inspects them, and car companies pay a price when they manufacture dangerous vehicles. @consumerfed

[Adam Rust @AdamRust9]

If the White House's critique is that the #CFPB costs consumers money, why has it reversed $19 billion in CFPB-granted relief for consumers this year?

[Adam Rust @AdamRust9]

The #Bitsika card perfectly illustrates how some #fintechs and their partner banks see KYC evasion as a product differentiator. They add risk across the #payments ecosystem. https://t.co/JFlczL5zNg

[Luke Dupont @leadlikeluke]

@AdamRust9 This is such an important connection.. linking BSA and consumer protection feels like a real path to stopping harm and getting victims actual redress. Great work pushing this forward.

[Adam Rust @AdamRust9]

Yesterday, @SenWarren @SenatorDurbin @ChrisVanHollen @RepPressley @RepCasten stood with advocacy groups & the @NTEUnion to #DefendCFPB. They know Congress represents people, not billionaires. Thank you for your leadership for the #CFPB. @BorrowerJustice @RealBankReform

[Protect Borrowers @BorrowerJustice]

🚨LIVE NOW: 1 year after the Trump Admin took over the CFPB @SenWarren @SenatorDurbin @ChrisVanHollen @RepPressley @RepCasten & @SenSchumer are joining us to say #DefendCFPB and  #BorrowersNotBillionaires!

📺 WATCH: https://t.co/iA8nq0sYEx

[Adam Rust @AdamRust9]

I have a new paper out today calling for greater linkage b/w BSA work against #IllicitFinance & #ConsumerProtection enforcement efforts to fight #scams. This is an opportunity for victims to receive redress. Do you know about funnel accounts? Learn more by reading my paper!

[Consumer Federation of America @ConsumerFed]

New paper from CFA examines the dramatic rise in #fraud & #scams and calls for closer coordination between consumer protection and the policing of illicit finance. By @AdamRust9

https://t.co/NFFJ1N1BNQ

[Adam Rust @AdamRust9]

@SheilaBair2013 comments in the @FT: US banks need to cut their #creditcard interest rates. Ms. Bair prefers a cap at FFR + 10 percent, an amount consistent with historical market norms. https://t.co/IibigKHhqf

[Adam Rust @AdamRust9]

@BBGreatMoments Salvy

[Adam Rust @AdamRust9]

About to enjoy the @ncbudgetandtax Economy For All Summit .https://t.co/aDvl531Rez

[Adam Rust @AdamRust9]

@WadeOnTweets Thanks, Wade!