Bankster boy Trump celebrates shield for banks from wronged customers

[crimethink]

Congress's Late-Night Vote to Protect Banks From Lawsuits

https://www.theatlantic.com/business/archive/2017/10/cfpb-mandatory-arbitration/543918/

https://www.usnews.com/news/business/articles/2017-10-25/senate-gop-votes-to-repeal-consumer-rule


"President Donald J. Trump applauds the Congress for passing," the resolution, the White House said in a statement shortly after the vote that highlighted its own Treasury Department report criticizing the rule. "The rule would harm our community banks and credit unions by opening the door to frivolous lawsuits by special interest trial lawyers." [<-- this is bullshit, of course -ct]

(...)

The American Bankers Association cheered the Senate vote. "Today's vote puts consumers first [http://www.matchdoctor.com/image/forums/emoticons/32.gif] rather than class-action lawyers," said Rob Nichols, the group's president and chief executive officer.

[cheka.]

the competing currency people ought to weigh in on this. choose your bank wisely - no more sleeping with dogs because fdic will make you whole (a key part of instilling 'trust' of the skype banking 'system')

banks that fck their customers will lose deposits (from the aware). not advised....as each deposit can be loaned out multiple times. this will probably be an issue only if/when a BIG ONE hits (again)

[Carl]

the competing currency people ought to weigh in on this. choose your bank wisely - no more sleeping with dogs because fdic will make you whole (a key part of instilling 'trust' of the skype banking 'system')

banks that fck their customers will lose deposits (from the aware). not advised....as each deposit can be loaned out multiple times. this will probably be an issue only if/when a BIG ONE hits (again)

Banks don't 'loan' from deposits, banks create deposits with 'loans'.

The majority of what people believe about the Fed and banking are lies.

MONEY (http://carl-random-thoughts.blogspot.com/2016/02/money.html)

[hoarder]

the competing currency people ought to weigh in on this. choose your bank wisely - no more sleeping with dogs because fdic will make you whole (a key part of instilling 'trust' of the skype banking 'system')

banks that fck their customers will lose deposits (from the aware). not advised....as each deposit can be loaned out multiple times. this will probably be an issue only if/when a BIG ONE hits (again)The illusion of market checks and balances is superficial. If you take your money out of one Jewish bank and put it in another Jewish bank, are you punishing anyone?

[cheka.]

Banks don't 'loan' from deposits, banks create deposits with 'loans'.

The majority of what people believe about the Fed and banking are lies.

MONEY (http://carl-random-thoughts.blogspot.com/2016/02/money.html)

nice aside, but you missed my point.

their loans are limited by this equation: deposits x whatever the max multiple is for their type of business (credit union, commercial bank, etc). so my point stands, each deposit gained/lost is multiplied in their ability to loan

[Carl]

nice aside, but you missed my point.

their loans are limited by this equation: deposits x whatever the max multiple is for their type of business (credit union, commercial bank, etc). so my point stands, each deposit gained/lost is multiplied in their ability to loan

No they are not. They are limited by capital assets held and interbank liquidity. Deposit accounts are bank liabilities, not assets.

[cheka.]

No they are not. They are limited by capital assets held and interbank liquidity. Deposit accounts are bank liabilities, not assets.

10-4. one example of the limits put on credit unions

https://publishedguides.ncua.gov/examiner/Pages/Content/ExaminersGuide/MBL/AggregateLimit.htm

Section 723.8 of NCUAClosed rules and regulations sets out the statutory limits mandated by §107A of the Federal Credit Union Act. Specifically, §723.8(a) states:

The aggregate limit on a federally insured credit union’s net member business loan balances is the lesser of 1.75 times the actual net worth of the credit union, or 1.75 times the minimum net worth required under section 1790d(c)(1)(A) of the Federal Credit Union Act.

[Horn]

Its ok cheka,

Carl has been irritable since 2008 when since his "capital asset" were stabbed by "one-eyed paper" price stagflation.


https://vignette3.wikia.nocookie.net/walkingdead/images/a/a9/Season_seven_carl_grimes.png/revision/latest?cb=20161212221821

Once his wall is built, free travel visas from U.S. will no longer be available.

Carl, Put the gun down, Carl! :)

[cheka.]

not really following all of that...but it sounds funny as hell :)