Adam Rust

@AdamRust9

Advocate for consumer financial protections. Director of Financial Services, Consumer Federation of America. Otherwise, reading + working on my serve. OmO!

Durham, North Carolina Joined May 2020

898 Following 562 Followers 1.2K Posts

Latest posts 5

Adam Rust @AdamRust9 5d

High-cost lender #OppFI is withdrawing its charter application. This is good news. A charter is a privilege, and it comes with responsibilities. Making loans at 100+ percent is not a responsible practice. prnewswire.com/news-releases/…

www.prnewswire.com OppFi Provides Update on Pending BNC Acquisition /PRNewswire/ -- OppFi Inc. (NYSE: OPFI) ("OppFi" or the "Company"), a tech-enabled digital finance platform that partners with banks to offer financial...

Adam Rust @AdamRust9 Oct 8

This is still one of the best accounts I've read on what it feels like to get stuck in a #paydayloan app #debttrap. thebaffler.com/salvos/paid-ph… @NCLC4consumers @CRLONLINE @danielkolitz

thebaffler.com Paid Phones | Daniel Kolitz More and more Americans are living paycheck to paycheck. Albert, Cleo, Brigit, and Dave are here to help—but terms and conditions apply.

Adam Rust @AdamRust9 Sep 16

@RepSylviaGarcia: #HR1653 "will tip off wrongdoers." Thank you! #DefendCFPB

Adam Rust @AdamRust9 Sep 16

#𝐇𝐑𝟕𝟖𝟔𝟔 𝐢𝐬 𝐚𝐧 𝐚𝐧𝐭𝐢-𝐚𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐛𝐢𝐥𝐥. It undermines state interest rate protections, helps high-cost lenders impose triple-digit rates, and adds thousands of dollars to the annual cost of borrowing. Congress must vote NO. #StopTheDebtTrap

Adam Rust @AdamRust9 May 20

The solution to the regulatory gray zones around #BaaS, let alone problems like #Synapse that occurred within them, will not be found by granting the space more privileges. Light touch #fintech #KYC facilitates #scams. bit.ly/43h4qZo

www.whitehouse.gov Integrating Financial Technology Innovation into Regulatory Frameworks By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered: Section 1. Policy.