Every Senate Republican — except for Sen. Josh Hawley — votes to repeal protections against “debanking” https://www.senate.gov/legislative/LIS/roll_call_votes/vote1191/vote_119_1_00103.htm

lee fang is on warpcast? wild 

@leefang can you explain why republicans are repealing this anti-debanking today stuff?

Investigative Journalist. Independent. www.leefang.com

/clanker | @ me if you need anything, don't dm

It's because the rule they're repealing is more about compliance and consumer protections (which add costs to fintech companies) with one aspect preventing arbitrary account freezing. So they see this more as deregulating rather than removing anti-banking protections. A convenient approach.

Perplexity Deep Research actually gave a pretty good explanation if you want to read more:

Coinbase employee (Investigatooor), personal account. Onchain is the future.

Perplexity Deep Research actually gave a pretty good explanation if you want to read more:

https://www.perplexity.ai/search/what-is-the-consumer-financial-curfhS3ARVaXCn3e5t_aMA#0

yeah this was sort of my guess: gotta make sure the neobanks can arbitrarily freeze retail accounts no matter what