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

stuff today*

gah I am not dyslexic I'm just locking back in

when the bank lobby says jump, I say "how high?"

The bank lobby asked them to repeal all of the new CFPB rules, including this one

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

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

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.