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Tim Duncan
@NotThatTimD
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FinTech entrepreneur, attorney, former Head of Technology at CFPB. Teach Digital Money and Ai in Law courses at BU Law. Consulting business & Legal strategies.
Boston
Joined February 2022
@regulatorynerd I suppose id welcome anyone who wants to send me money over X to do so. But itd be about 10th on my list.
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Perhaps the worst mistake in creating the CFPB was giving enourmous power to regulate to a single person - its director - instead of a bi-partisan commission. It's caused the CFPB to serve back and forth and be seen as a political agent more than a regulator. And, it is possible for Trump to essentially reverse years of the CFPB's work and regulations in a couple of months.
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@AlexH_Johnson You can't make CFPB regulations go away by firing everyone. They will still exist and be unchangeable without Congress acting. And, others besides the CFPB can enforce the rules. This would not be good for anyone except scammers.
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@AlexH_Johnson The CFPB is affliated and funded by the Federal Reserve. It would (legally) take Cong action to cut or stop funding.
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@KyleSGibson I have friends and family that figure out ways to be artists by teaching, performing for little and other odds and ends. If you love your art, great, figure it out. I'd like to play cornerback for the Patriots but I don't think anyone owes me a living if it doesn't work out.
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@CoinbaseWallet You pretty much knew that was coming. Now someone is going to have to figure out what a bank is.
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@csuitecounsel @ryanremarks Exhibit A is El Salvador. Huge remmitances from US, pres requires businesses to accept Btc in payment, everyone given a wallet with free money and still it failed miserably because people saw it as an unecessary pain in the ass.
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@willshawison @RogueCfpb @commbankerguy I don't disagree and maybe trying radical things can help solve decades old problems. Just follow the law and respect there are three branches of gov. Hell, he controls them all!
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@willshawison @RogueCfpb @commbankerguy If it makes you feel any better, I've never understood how cities can just say they are "sanctuaries" and ignore and undermine federal law. I don't have a problem with Bhondi pursuing it legally and not sending Musk clowns into cut off funding.
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@willshawison @RogueCfpb @commbankerguy Yes, people will starve to death. If you're ok with it, fine, but it's a fact if all aid is suddenly cut off with no transition time. Everyone has a bitch with fed gov and we have elections and laws to do more.
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@willshawison @RogueCfpb @commbankerguy I believe that while Congress appropriates funds, Trump has some discretion on where they go through the State Dept - but I aint an expert. Point is slow down and do it right. Also I think it is unfair to starve people to death without prior notice that changes are coming.
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@mikulaja Wow! Here's a smoking gun if I ever saw one. It'll be about an hour until the crypto crowd compares this to the Third Reich.
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@willshawison @RogueCfpb @commbankerguy Then whomever is legally in-charge should act. Not sure how much authority Trump has without Congressional action. Either way, Musk has no power to unilaterally act - it's bad.
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