The pro business party gutting the one piece of the regulatory state you absolutely cannot fuck up. - ThreadSky

regimecpa.bsky.social • 34 days ago

The pro business party gutting the one piece of the regulatory state you absolutely cannot fuck up.

FDIC has yanked job offers to more than 200 new examiners, the front-line employees who closely monitor banks to ensure they operate safely and adhere to an extensive rule book.
www.washingtonpost.com/business/202...

Comments

hauntedpumpkin.bsky.social•32 days ago

Is it time to do a run on the banks yet or nah?

mel46011.bsky.social•32 days ago

Wait until Monday

wood-mousse.bsky.social•34 days ago

One of the pillars of American life for the last 90 years has been that no one even thinks about whether the bank has enough money for you to withdraw from your accounts. It’s very bad for banks as a business if people are even thinking about this

10000thmule.bsky.social•34 days ago

Bank runs are essentially a technical problem we solved 100 years ago, you do not want to bring that shit back

beccasmullet.bsky.social•34 days ago

The Biden Administration literally had to clean up after the first Trump Admin's liberalization of those rules. That's how we got the Silicon Valley Bank and Signature Bank failures.

slucy.bsky.social•34 days ago

Don't worry, the woke legacy dinosaur banks will soon be replaced with X, The Everything App

regimecpa.bsky.social•34 days ago

Jamie Dimon personally strangling X to death with his bare hands

pazuzuzu.bsky.social•32 days ago

Tesla is holding $1.2B in cryptocurrency. I think Elon is deliberately tanking the stock market and destroying the US Treasury to boost crypto.

beccasmullet.bsky.social•34 days ago

Oh, and that photo! Somebody remaining at the Post has a sense of humor! Signature Bank, my ass!

regimecpa.bsky.social•34 days ago

Bank examiner is a stable, high travel career made up of dedicated civil servants who are taking a pay cut and enduring more travel to serve the public.

regimecpa.bsky.social•34 days ago

If I had known it was an option it would’ve been my career path.

riskymanag3ment.bsky.social•34 days ago

Examiners can take a nice bump working in the bank itself, but then you have to figure out how to keep the profit machine running while keeping examiners happy.

supremerobo.bsky.social•34 days ago

Good thing nobody currently in government is the type of person to cause a bank run based on paranoia and drug use

beccasmullet.bsky.social•34 days ago

Oh, snap! That deserves a follow, Sir or Madam!

completetravisty.bsky.social•32 days ago

So can they just forget about the NCUA?

donettes.bsky.social•34 days ago

I guess I’ll go to a credit union then?? Idk

regimecpa.bsky.social•34 days ago

I would never advise that.

donettes.bsky.social•34 days ago

Why not if you don’t mind me asking?

regimecpa.bsky.social•34 days ago

I am a bank auditor in the private sector and the NCUA examiners are way too lenient, I have endless horror stories of credit union mismanagement. Their friendly face is mostly marketing rather than reality anyway, they’re very aggressive in repo operations.

beccasmullet.bsky.social•34 days ago

Gots to agree. Ya gotta find a modest-sized regional or local bank and ask to see their stress test documents. If they refuse, move on. Employees will sometimes look at you funny, but it's just because they may not understand how important it is.

regimecpa.bsky.social•34 days ago

As a consumer you’re basically fine just prioritizing customer service and adhering to deposit insurance thresholds, if the insurance system fails you are looking at like state collapse and have bigger problems.

jseewrites.bsky.social•18 days ago

There are lots of bad actors in the credit union sector, especially in California.

https://www.kpbs.org/news/quality-of-life/2023/11/29/san-diego-credit-unions-charging-millions-overdraft-fees

The one I belong to is pretty good.

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