Who Loves Woke Wall Street?
Who Loves Woke Wall Street? The Consumer Financial Protection Bureau isn't just protecting consumers, it may also be protecting conservatives. And conservatives need to wake up to that reality. Matt Stoller Welcome to BIG, a newsletter on the politics of monopoly power. If you’re already signed up, great! If you’d like to sign up and receive issues over email, you can do so here . This piece continues a theme I’m fascinated by, which is the internal conflict within the Republican Party over corporate power. In this case, it’s about a lawsuit by Wall Street and Big Tech to have the Consumer Financial Protection Bureau, which is trying to stop banks from discriminating against customers, declared unlawful. If Wall Street is successful, they will be empowering banks to deny banking services to conservatives. And therein lies the possible tension. The American Bankers Association regularly communicates how banks can practice more effective ‘diversity, equity, and inclusion’ efforts. I...