Adam Rust @AdamRust9

Advocate for consumer financial protections. Director of Financial Services at the Consumer Federation of America. Always working on my serve. Reading, too.OmO! Durham, North Carolina Joined May 2020

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Adam Rust @AdamRust9

8 hours ago

Beginning today, the government will no longer distribute benefits through #paperchecks. How many people will be unable to sign up for #GoDirect #benefit cards during the government #shutdown? Not a small number. godirect.gov/gpw/

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Adam Rust @AdamRust9

10 hours ago

When does BNY Mellon take over the #DirectExpress program? Today's note says all recipients (w/o waivers) will receive electronic disbursements links to GoDirect, where it says Comerica is the issuer. Will millions of people have to get new cards twice? fiscal.treasury.gov/directexpress/

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Adam Rust @AdamRust9

6 days ago

I am disheartened to see that a new rule will prevent some older workers from making tax-deferred "catch-up" #401(k) contributions beginning in TY 2026. We need more #retirement security, not less! cnbc.com/2025/09/18/tre…

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Adam Rust @AdamRust9

3 weeks ago

The record number of auto loan delinquencies & defaults is a canary in the coal mine for large-scale economic problems. usatoday.com/story/money/20… @ConsumerFed

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Consumer Federation of America @ConsumerFed

3 weeks ago

In 2024, the #CFPB ordered Navy Federal Credit Union to refund more than $80 million to consumers. This June, Trump’s CFPB terminated this enforcement action. Learn how this rollback gravely impacts #MilitaryFamilies in our latest blog consumerfed.org/from-refunds-t…

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Adam Rust @AdamRust9

a month ago

The more you know about the #CFPB, the more you see how many ways it helps people. The CFPB offers free placemats, typically to senior centers, with tips to avoid scams. Topics include Medicare ID #fraud, Social Security & charity #scams. pueblo.gpo.gov/CFPBPubs/CFPBP…

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Adam Rust @AdamRust9

a month ago

Bankruptcy filings have increased 11 percent this year. uscourts.gov/data-news/judi…

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Adam Rust @AdamRust9

2 months ago

#Crypto fans claim that digital asset values are uncorrelated with fluctuations in other markets. (As if crypto is a diversification #investment! Ha!). Surprise, it's not true. IE. Stox & crypto falling a lot today. Still waiting on that crypto use case! bit.ly/40JO0rQ

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Adam Rust @AdamRust9

2 months ago

If business #journalism focused on how well our economy is working for regular people, reporters would be all ears waiting for the St. Louis Fed to release its data on household #savings. fred.stlouisfed.org/series/PSAVERT

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Rohit Chopra @ChopraUSA

2 months ago

In today's economy, companies are concocting new ways to invent new fees and hike prices. Join me on @Reddit at 11am ET today to talk about junk fees, personalized price gouging, corporate consolidation, and more. reddit.com/r/IAmA/comment…

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Adam Rust @AdamRust9

2 months ago

If your hometown has a #CommunityDevelopmentFinancialInstitution, you appreciate the value they bring. #CDFIs deploy capital to difficult projects. The American Access to Banking Act encourages more #DeNovo CDFIs & minority depository institutions (#MDI). bit.ly/4lDA0If

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Adam Rust @AdamRust9

3 months ago

The #CFPB #Section1033 rule prevented banks from charging #openbanking data sharing fees. If banks can charge punitive fees, it protects credit card interchange and thwarts #PayByBank. Story here: #deregulation is threatening financial innovation.

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Adam Rust @AdamRust9

3 months ago

There's something inconsistent about dropping supervision of #paymentapps and then leaving an opening for banks to charge tolls to fintechs.

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Adam Rust @AdamRust9

3 months ago

Auto loan delinquencies (90 days + past due) have increased for seven consecutive quarters. It's the wrong direction for a leading indicator to be heading. ycharts.com/indicators/us_…

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Adam Rust @AdamRust9

3 months ago

Historically, the public could review #bank #charter applications made to the @USOCC. But for now, all outstanding apps are missing. apps.occ.gov/CAAS_CATS/Defa… They are all for payment or #crypto charters.

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Adam Rust @AdamRust9

3 months ago

It doesn't square when the #CFPB gives a free pass to #NavyFederal for charging illegal #overdraft fees AND claims it cares about #servicemembers. The order called for $80.6 million in redress. How many millions did this CFPB just take from servicemembers? bit.ly/3I758kK

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Adam Rust @AdamRust9

3 months ago

Once again, the new Trump-era #CFPB is siding with law breakers at consumers' expense. The #NavyFederal consent order called for $80.6 million to go to harmed consumers for unfair #overdraft policies. consumerfinance.gov/enforcement/ac…

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Adam Rust @AdamRust9

3 months ago

The #BigBrutalBill sets up future generations to pay for short-term pro-billionaire #taxcuts. Someday the bill will come due. At what point in time does the scale of tax obligations become so great that it challenges the value prop of a 401(k)? It's a slow-motion train wreck. OMO

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Adam Rust @AdamRust9

3 months ago

Parliamentarian nixes key pieces of Tim Scott’s megabill proposal politico.com/live-updates/2… via @politico

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Adam Rust @AdamRust9

4 months ago

In yday's #Townstone decision:“Now, current CFPB leadership under the second Trump administration, in an act of legal hara-kiri that would make a samurai blush, falls on the proverbial sword and attests that the lawsuit lacked a legal or factual basis.” bankingdive.com/news/judge-rej…