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

Joined May 2020
47 Photos and videos
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?
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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. consumerfed.org/press_releas…
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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
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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?
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Adam Rust retweeted
Replying to @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.
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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
🚨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: youtube.com/live/JUnEBdoCh_E
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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!
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 consumerfed.org/press_releas…
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The Mercury #charter application runs 17 pages, with a 1-page #CRA plan. By comparison, OneMain's 2024 app was 101 pages, with a 28-page CRA plan. De novo shouldn't mean desultory.
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Notwithstanding that a #ratecap cannot occur without congressional action, limiting such a change to one year effectively requires deferred-interest cards for everyone. The main takeaway should be that financial services expenses need to be a part of the #affordability agenda.
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Notwithstanding the Qs of if a #creditcard cap can be done by fiat (it can't), and if 10% is the right price...I hope the idea that costs for financial services are as much a part of the #affordability agenda as the price of eggs, rent, and transportation.
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I'm kind of let down by Wall Street penalizing #creditcard banks today; usually, the wisdom of crowds leads to a more realistic analysis. Suffice to say, Congressional action, rulemaking, and court injunctions won't be done by next Tuesday.
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18 Dec 2025
People have rarely been so excited about #EFTA. Not surprising to see it in the news this week - it's an essential #payments law.
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16 Dec 2025
I enjoyed speaking this morning on personal #financial #data sharing & #Section1033 with @jpmorgan @fintechassoc and @PNCBank @bankpolicy and @thehill at "Modern Money: The Next Chapter of #Banking, #Regulation, and Financial Trust." #fintech #privacy #cfpb @consumerfed
Now a panel on consumer data & open banking—examining how access, security, and innovation intersect—with: - Natalie Talpas (EVP, @PNCBank), - Kate Prochaska (MD, @jpmorgan), - Adam Rust (@ConsumerFed) - Angelena Bradfield (@FinTechAssoc). #TheHillEconomy x.com/i/broadcasts/1Yqxolrpg…
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