Published on: 2025-04-21 11:52:39
The Consumer Financial Protection Bureau has been reduced to a skeleton crew. The department, which was created to oversee banks and financial institutions, has cut about 1,500 jobs , leaving about 200 employees and reducing the agency by about 90 percent. In addition to cutting most of the staff, Chief Legal Officer Mark Paoletta sent a memo detailing the changed priorities for the CFPB. The bureau has been ordered to deprioritize subjects including consumer data, digital payments, medical deb
Keywords: bureau consumer created department financial
Find related items on AmazonPublished on: 2025-04-21 15:27:51
More than 1,400 Consumer Financial Protection Bureau (CFPB) workers were terminated from their positions on Thursday amid a broader Trump administration shakeup at the independent government agency, sources tell WIRED. There were around 1,700 employees in total at the CFPB. The mass reduction in force, or RIF, comes nearly a month after a federal judge issued a temporary restraining order barring the Trump administration from removing probationary employees at the CFPB and other agencies. On Fr
Keywords: agency cfpb consumer employee financial
Find related items on AmazonPublished on: 2025-04-22 15:10:48
In Brief Stargate, a $500 billion project headed up by OpenAI, Oracle, and SoftBank to build AI data centers and other AI infrastructure in the U.S., is considering investments in the U.K. and elsewhere overseas, according to a Financial Times report. While Stargate was initially launched as a way to boost U.S. AI infrastructure, the project is allegedly weighing international expansion. In addition to the U.K., Germany and France are on the table, per the Financial Times’ reporting. Stargate
Keywords: ai billion financial softbank stargate
Find related items on AmazonPublished on: 2025-04-23 13:00:25
Why you should join Formance Formance is on a mission to redefine how developers interact with money as a first-class primitive and compose with finance. Hidden through permissioned, vendor-locked infrastructure, money needs to rewire itself to empower product-first companies with the ability to create innovative financial applications. With the Formance Platform, we're putting agnostic primitives in the hands of engineers and their team. These primitives are available as open-source packages,
Keywords: applications companies financial formance primitives
Find related items on AmazonPublished on: 2025-04-30 05:26:00
Bottom line: More than four years after Mark Zuckerberg rebranded Facebook as Meta to chase his metaverse vision, the company has poured tens of billions into the effort – with little to show for it. The ongoing losses have raised serious doubts about the strategy and its long-term viability. Insiders say the metaverse project has become a financial sinkhole, consuming $45 billion by early 2025. That's nearly equal to the combined market caps of social media rivals Snap and Pinterest – or the a
Keywords: billion division financial losses meta
Find related items on AmazonPublished on: 2025-05-05 14:30:00
The stock market is seesawing as the world reacts to President Donald Trump's wide-ranging tariffs and the resulting fallout. The S&P 500, a benchmark for US stocks, and the Dow Jones Industrial Average have been down each day since tariffs were announced, despite temporary rebounds as tariff pause rumors gave traders hope. The rumors proved true, as the president today announced a 90-day pause on reciprocal tariffs -- with the exception of China -- sending stocks soaring this afternoon. "It is
Keywords: financial market miller said stock
Find related items on AmazonPublished on: 2025-05-08 07:29:23
Unknown attackers who breached the Treasury's Office of the Comptroller of the Currency (OCC) in June 2023 gained access to over 150,000 emails, according to anonymous sources familiar with the matter. The OCC is an independent bureau of the U.S. Department of the Treasury that oversees banks and federal savings associations and ensures they comply with applicable laws and regulations, treat customers fairly, and provide fair access to financial services. As Bloomberg first reported, the threa
Keywords: email financial incident occ security
Find related items on AmazonPublished on: 2025-05-10 06:56:00
The longterm impact of the new US tariffs implemented by President Donald Trump may be unclear, but the short-term effects are causing a downturn in the leading US markets. After plunging into bear market territory this morning, the S&P 500, a benchmark for US stocks, temporarily jumped back up after false rumors of a 90-day tariff pause surfaced. The White House posted on X that a tariff pause was "fake news," which sent the stock index tumbling again. The Dow Jones Industrial Average saw simi
Keywords: financial market miller said stock
Find related items on AmazonPublished on: 2025-05-10 19:15:59
The longterm impact of the new US tariffs implemented by President Donald Trump may be unclear, but the short-term effects are causing chaos in the leading US markets. After plunging into bear market territory this morning, the S&P 500, a benchmark for US stocks, temporarily jumped back up after false rumors of a 90-day tariff pause surfaced. The White House posted on X that a tariff pause was "fake news," which sent the stock index tumbling again. The Dow Jones Industrial Average saw similar s
Keywords: financial market miller said stock
Find related items on AmazonPublished on: 2025-05-11 15:52:00
The long-term impact of the new US tariffs implemented by President Donald Trump may be uncertain, but the short-term effects have been obvious -- stock prices in the leading US markets are crumbling. After the new tariffs were announced late Wednesday, the Dow Jones Industrial Average dropped by 1,647 points on Thursday and has fallen another 2,000 points, or nearly 5%, on Friday. "It is very difficult for businesses to plan in this chaotic tariff environment created by the Trump administrati
Keywords: financial market miller said stock
Find related items on AmazonPublished on: 2025-05-12 19:12:27
Over the weekend, a massive wave of credential stuffing attacks hit multiple large Australian super funds, compromising thousands of members’ accounts. The Association of Superannuation Funds of Australia (ASFA), Australia's advocacy body for the superannuation industry, said today that "a number of members were affected" even though the "majority of the attempts were repelled." Reuters has learned from a source familiar with the matter that over 20,000 accounts were breached in this massive w
Keywords: accounts attacks financial funds members
Find related items on AmazonPublished on: 2025-05-15 03:08:05
After a banner year in 2024 and an upward spike in stock prices after the US presidential election, the stock market has had a terrible spring. Since peaking at 6,411.15 on Feb. 19, 2025, the S&P 500 index -- a benchmark for US stocks -- has fallen more than 15% over the past 6 weeks. The shifting tariffs policies of the Trump administration haven't helped. Yesterday, the White House announced a massive new set of tariffs for countries around the world. Today, US stock prices plummeted so quick
Keywords: financial market miller said stock
Find related items on AmazonPublished on: 2025-05-16 04:00:00
Plaid, which connects bank accounts to financial applications, has sold about $575 million worth of common stock at a $6.1 billion post-money valuation, the fintech company confirmed to TechCrunch. The valuation is about less than half of the $13.4 billion that San Francisco-based Plaid was valued at when it raised a $425 million Series D in April 2021 in a round led by Altimeter Capital. A spokesperson acknowledged the decrease, saying it was “simply a reflection of the contraction of multiple
Keywords: capital company financial new plaid
Find related items on AmazonPublished on: 2025-05-20 12:24:00
If the Consumer Financial Protection Bureau doesn't prioritize protecting consumers, does it matter if the watchdog agency still exists? It might seem like a philosophical question, but this could be the CFPB's final chapter. On Friday, a federal court blocked the Trump administration from dismantling the agency with a temporary injunction, ordering employees be reinstated. But some of the damage has already been done. The CFPB has suspended most operations and started unwinding regulations, a
Keywords: agency cfpb consumer consumers financial
Find related items on AmazonPublished on: 2025-05-21 03:30:33
In Brief CaaStle, a startup that launched in 2011 as a plus-sized clothing subscription service and in 2018 became an inventory monetization platform for clothing retailers, is facing financial difficulties, reports Axios. The company is almost out of money, CEO Christine Hunsicker has resigned, and law enforcement is investigating alleged financial misconduct, Axios reported, citing a leaked letter from the board. CaaStle did not immediately respond to a request for comment. TechCrunch notic
Keywords: axios board caastle financial startup
Find related items on AmazonPublished on: 2025-05-29 22:39:05
Fintech Block laid off 931 people Tuesday, according to a leaked message from the company seen by TechCrunch. The news was announced to staff in an email from Block’s co-founder and CEO, Jack Dorsey. Dorsey told staff that Tuesday, Block will be “making some org changes, including eliminating roles and beginning the consultation process in countries where required.” These are the latest changes to hit Block, Dorsey’s financial services giant that owns Cash App and Square. The company provides
Keywords: block cut dorsey financial roles
Find related items on AmazonPublished on: 2025-05-30 14:18:52
World Liberty Financial, the decentralized finance protocol that was founded and run primarily by President Donald Trump’s sons, announced Tuesday that it will launch a stablecoin called USD1. That announcement comes less than one week after President Trump threw his support behind a new legal framework that would seek to normalize stablecoins. According to Reuters, USD1 will be backed by U.S. Treasury bonds, dollars, and other cash equivalents. It’ll launch on Ethereum and Binance Smart Chain
Keywords: financial liberty money stablecoins world
Find related items on AmazonPublished on: 2025-06-02 23:15:51
You will work directly with the founding team to design and build the future of the financial system from the ground floor of a high growth startup. We pride ourselves on having a hands off culture by having very few meetings and giving engineers a broad scope of responsibility and autonomy. You’ll be working in-person 5 days/week in our NYC FiDi office, building side-by-side with the rest of the team. Our tech stack is django/python, react/next/typescript, hosted on AWS. This is a full-time ro
Keywords: building financial founding hadrius team
Find related items on AmazonPublished on: 2025-06-02 19:35:00
On Thursday, March 20, US President Donald Trump signed an executive order with the intent to eliminate the federal Department of Education and "return authority over education" to states and local government. One critical function of the department is the administration of federal student financial aid like grants and student loans. If the Department of Education is closed, what does that mean for the Free Application for Federal Student Aid, or FAFSA? In comments to reporters Thursday, press
Keywords: aid department fafsa financial student
Find related items on AmazonPublished on: 2025-06-03 06:14:01
In mid-March, the US stock market had one of its worst moments since last summer, in large part over mounting fears of a trade war. Widespread uncertainty surrounding President Donald Trump's economic policies, including tariffs and massive slashing of federal programs and funding, sent the S&P 500 index, a benchmark for US stocks, on a four-week losing streak. And the market could be in the red for a while. "It is very difficult for businesses to plan in this chaotic tariff environment create
Keywords: financial market miller said stock
Find related items on AmazonPublished on: 2025-06-12 09:41:34
The changes go into effect for the 2025-2026 academic year. Harvard says tuition will be free for families making $200K or less Harvard University on Monday announced that tuition will be free for students from families with annual incomes of $200,000 or less starting in the 2025-26 academic year. "Putting Harvard within financial reach for more individuals widens the array of backgrounds, experiences, and perspectives that all of our students encounter, fostering their intellectual and perso
Keywords: aid financial harvard students university
Find related items on AmazonPublished on: 2025-06-14 07:00:03
If the Department of Education no longer exists, does the FAFSA disappear, too? The Department of Education processes the Free Application for Federal Student Aid and administers federal financial aid programs. However, the department may not be around for much longer, with Secretary of Education Linda McMahon talking about ways to close it. The department staff was slashed by nearly half this month and the studentaid.gov website went down for hours. "These workforce reductions raise serious q
Keywords: aid department fafsa financial student
Find related items on AmazonPublished on: 2025-06-20 18:00:00
It looks like the end of the road for a government watchdog, which experts say could leave you with fewer financial protections. The Consumer Financial Protection Bureau is beginning to "wind down" operations as its new leadership team and Elon Musk's DOGE gut the agency, according to a lawsuit filed by the union representing CFPB employees. "Staff were told by senior executives that the CFPB would be eliminated except for the five statutorily mandated positions," a current CFPB employee testi
Keywords: agency cfpb consumer fdic financial
Find related items on AmazonPublished on: 2025-06-22 13:00:00
Worth, a company focused on helping fintechs, banks, and enterprises underwrite small and medium-sized businesses more easily, has raised $20 million in a seed funding round, the startup tells TechCrunch exclusively. It’s a large seed round, especially these days when capital is harder to come by. But the founders’ history may have something to do with that. Sal Rehmetullah and Suneera Madhani, who are siblings, also founded another fintech company, Stax Payments. They exited that startup after
Keywords: business credit financial said worth
Find related items on AmazonPublished on: 2025-06-29 04:20:12
Say what you will about the Department of Government Efficiency, but there are some ways that the Trump administration has significantly cut down on bloat. For example, it used to take at least a little digging to identify if a President was favor-trading and self-dealing. Now it seems like it just happens out in the open. So streamlined! To that end, cryptocurrency analysis platform Nansen AI reported that World Liberty Financial, a decentralized finance protocol that is operated primarily by
Keywords: crypto financial liberty trump world
Find related items on AmazonPublished on: 2025-07-01 03:38:57
is a senior policy reporter at The Verge, covering the intersection of Silicon Valley and Capitol Hill. She spent 5 years covering tech policy at CNBC, writing about antitrust, privacy, and content moderation reform. The Senate voted on Wednesday to strip a key financial regulator of its ability to monitor digital platforms like X, as the social media company’s owner, Elon Musk, has become the public face of the government office seeking to shrink the agency’s workforce. The resolution, which
Keywords: cfpb digital financial musk work
Find related items on AmazonPublished on: 2025-07-10 11:24:04
Today, Andrew Ng, one of the legends of the AI world, released a new document extraction service that went viral on X (link here). At Pulse, we put the models to the test with complex financial statements and nested tables – the results were underwhelming to say the least, and suffer from many of the same issues we see when simply dumping documents into GPT or Claude. Our engineering team, along with many X users, discovered alarming issues when testing complex financial statements: Over 50% h
Keywords: complex document documents extraction financial
Find related items on AmazonPublished on: 2025-07-11 23:00:00
ResilienceVC, a new seed-stage fintech venture capital firm based out of Washington, D.C., is announcing its $56 million debut fund, the firm shared exclusively with TechCrunch. Founded by Tahira Dosani and Vikas Raj in 2023, ResilienceVC’s mission is a straightforward one: to back fintech companies dedicated to helping Americans find financial stability. It’s writing checks into companies that can help people address challenges such as becoming homeowners, getting affordable insurance and acce
Keywords: companies financial fintech raj resiliencevc
Find related items on AmazonPublished on: 2025-07-13 14:00:37
Charles Liang, CEO of Super Micro Computer, during the AMD Advancing AI event in San Jose, California, on Dec. 6, 2023. Super Micro Computer shares rallied 12.2% after the AI server company filed its delayed financial results by the Nasdaq's deadline. The company's auditor BDO wrote in the filing that the consolidated financial statements for the fiscal year ending June 30, 2024, "present fairly, in all material respects, the financial position of the Company" and are "in conformity with accou
Keywords: company financial micro said super
Find related items on AmazonPublished on: 2025-07-14 03:25:00
Charles Liang, CEO of Super Micro Computer, during the AMD Advancing AI event in San Jose, California, on Dec. 6, 2023. Super Micro Computer shares rallied 14% after the AI server company filed its delayed financial results by the Nasdaq's deadline. The company's auditor BDO wrote in the filing that the consolidated financial statements for the fiscal year ending June 30, 2024, "present fairly, in all material respects, the financial position of the Company" and are "in conformity with account
Keywords: company financial micro said super
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