Federal Reserve Chairman Jerome Powell on Tuesday during a congressional hearing said the nation’s central bank felt compelled to address policies around “reputational risk,” noting that “debanking” is a “serious problem,” and would no longer be a part of its examination program while it supervises banks.
Read More: Breitbart
Silicon Valley billionaire venture capitalist Marc Andreessen accused the Democrats and the Biden administration of weaponizing executive agencies to pressure financial institutions to “debank” companies politically opposed to them.
“We have this thing called the Consumer Finance Protection Bureau, CFPB, which was the – it’s sort of Elizabeth Warren’s personal agency that she gets to control,” he continued. “And it’s an independent agency that just gets to run and do whatever it wants, right? And if you read the Constitution, like, there is no such thing as an independent agency. And yet there it is.” “This is one of the reasons why we ended up supporting Trump.”
Read More: Daily Wire