Popular Information - An explosive new lawsuit filed
by the Consumer Financial Protection Bureau alleges that Capital
One bank cheated its customers out of $2 billion. According to the
lawsuit, Capital One deceived and abused its depositors, baiting them
with promises of high interest rates before switching the terms and
paying little interest. The CFPB claims that Capital One purposefully
hid the truth about these accounts from customers and concealed the
availability of a new product that paid much higher interest.
Axios Markets - CEOs are enjoying a hot speech winter — one where speaking out in outrageous ways carries no cost, Axios' Felix Salmon writes. CEOs
of old would generally wield their power and authority with
judiciousness and restraint. A new breed appears to be reveling in the
fact that President-elect Trump has ripped off those fetters.
Trump's superpower has always been that he's able to say truly outrageous things and suffer no real repercussions. Elon Musk has followed in his footsteps. Now others are jumping on the bandwagon, most prominently Meta CEO Mark Zuckerberg.
A "top banker" told the Financial Times this week (but only on condition of his anonymity) that he feels "liberated" because he can now say shockingly vulgar things (which we won't repeat here) without fear of cancellation.
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