Ryan Tracy

Co-Writer @CapitolAccount, a daily newsletter on financial regulation. Formerly @WSJ. Signal username: ryanjtracy.19

[Ryan Tracy @ryanjtracy]

"We can only continue to give you the news and the atmosphere in which it happens. You must reach your own conclusions." - Edward R. Murrow

[Ryan Tracy @ryanjtracy]

Something I noticed as today's Senate Banking session turned into an oversight hearing about World Liberty Financial: The company's application to the OCC for a federal bank charter was received by the agency on Jan. 6. Can't make this stuff up.

[Lizzie Johnson @lizziejohnsonnn]

I was just laid off by The Washington Post in the middle of a warzone. I have no words. I'm devastated.

[Ryan Tracy @ryanjtracy]

Pulte's deleted tweets/pre-government online footprint continue to give endless fodder.

[Katy O'Donnell @KatyODonnell_]

The nation's top mortgage regulator has frustrated many of Trump’s top aides, but the president himself likes Pulte’s pit-bull approach. With @nancook
https://t.co/j97zusgwmB

[Ryan Tracy @ryanjtracy]

Two favorite things about the new CFPB nominee:
1 - His LinkedIn bio starts with the phrase "I began my career studying kelp forests..."
2 - Some in the financial world have already come up with a new nickname for the candidate – NINO, or nominee in name only.

[Bank Reg Blog @bank_reg]

The White House looking for a new CFPB director

[Bank Reg Blog @bank_reg]

The White House looking for a new CFPB director

[Ryan Tracy @ryanjtracy]

New: The CFPB is preparing a contingency plan for one of the biggest unanswered questions about its closure: What will happen to the weekly data it publishes for mortgage lenders?

[Ryan Tracy @ryanjtracy]

@RKSlaughterFTC @rcfp By contrast, a bunch of former Republican officials made an impassioned pitch to the conservative justices, arguing that agency independence is an "originalist" way to run a government. https://t.co/wRSRrKWsr5

[Ryan Tracy @ryanjtracy]

SCOTUS is preparing to consider whether regulators should still be "independent". Or can the president fire them at will? We saw something striking about the docket:

Not a single industry group, as far as I can tell, has asked the justices to preserve agency independence.

[Ryan Tracy @ryanjtracy]

@RKSlaughterFTC One (sort of) exception was the media. The @rcfp warned about about a world where regulators are afraid of the president’s whims. Here’s a snippet:

[Ryan Tracy @ryanjtracy]

@RKSlaughterFTC @rcfp Full piece for subscribers.
https://t.co/lun53wisaU

[Ryan Tracy @ryanjtracy]

@MBAMortgage Full post for subscribers: https://t.co/XwQ7Jw79Od

[Ryan Tracy @ryanjtracy]

The financial industry isn't exactly embracing the idea of a CFPB shutdown. Interesting bit from our coverage last night from @MBAMortgage. A CFPB spox didn't comment on what would happen to various data releases or rules if the agency stops spending money.

[Ryan Tracy @ryanjtracy]

@FINRA Free version here, full story for subscribers: https://t.co/HhVhLkIA8q

[Ryan Tracy @ryanjtracy]

It’s a difficult moment to be in charge of @Finra. Lawsuits on constitutionality. A GOP bill stripping powers. A longtime critic now SEC Chair. We sat down with CEO Robert Cook to talk about how he's adjusting to the times. He said detractors should think twice...

[Ryan Tracy @ryanjtracy]

CFPB Endgame? We're hearing @russvought is considering a simple plan to shut the agency down: Letting it run out of cash. Would that be legal, you ask? Here's how it could play:

[Ryan Tracy @ryanjtracy]

More details on what happened last time and Clayton's thoughts about a way forward, in last night's subscriber-only edition https://t.co/o7VQORxK4U

[Ryan Tracy @ryanjtracy]

.@SECPaulSAtkins wants to end mandatory quarterly reporting. History shows it’s unlikely to easy. We ran back the tape to when Trump's 1st SEC chief took a swing at it - suffice to say, there was a lot of blowback. Interestingly, though, Jay Clayton still likes the idea 👀

[Ryan Tracy @ryanjtracy]

The Fed has discretion to reject master account applications from eligible institutions, a Tenth Circuit panel affirms. "Custodia is not automatically entitled to a master account." https://t.co/KtQCN9C9e5

[Ryan Tracy @ryanjtracy]

Full story for subscribers in last night’s @CapitolAccount

[Ryan Tracy @ryanjtracy]

Notable: @USChamber is now on board with the firing of “independent” regulators (although they make an exception for the Fed). The group took the stance in an amicus brief about @RKSlaughterFTC’s Supreme Court case.