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#banking

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I got scammed by someone who I know, they scammed my Discover card, and I recognize that I trusted the wrong person.

BUT Discover has this new (?) thing where if someone charges your credit card and you recognize the charge but it’s the wrong amount you can’t dispute it you have to seek reimbursement from the business.

They confirmed to me that if I put down a $10 tip on a restaurant tab and the waitress changes it to 100 I can’t dispute that and get my $90 back from Discover card. I have to try to get the restaurant to give it back to me and if they won’t I guess I have to call the police and hope they charge the person and I can get it back in restitution in three years or something.

This is the craziest thing. Admittedly I don’t make a habit of doing chargebacks or disputes, I had to do one last year for three dollars because I couldn’t cancel cloud service And there was no way to stop the recurring charge. Then back in 2020 I did one because the compounding pharmacy sent me the wrong prescription strength and they wouldn’t fix it.

So I rage quit the card. Basically they’re claiming that if I authorize someone to charge my card I’m shit out of luck if they charge it for any amount I didn’t authorize unless I have a receipt that is a different amount than they charged. BE WARNED. DO NOT AUTHORIZE A CHARGE WITH A DISCOVER CARD UNLESS YOU CAN PROCESS IT YOURSELF AND YOU GET A RECEIPT YOU CAN IMMEDIATELY EXAMINE.

New paper from #Yale and the #FederalReserve blames the 2023 banking crisis on (you guessed it) #crypto and Nerd Reich #VCs.

> "A clearer commonality between the six banks [that failed], the paper argues, is their exposure to risky depositor bases that other banks shied away from: #crypto firms and [tech] venture capitalists."

* American Banker: americanbanker.com/news/new-pa
* Paper: chicagofed.org/publications/wo

Ukraine Daily summary - 2025

JD Vance's cousin, former volunteer fighter in Ukraine, condemns VP's 'ambush' of Zelensky -- [vblog] Trump's betrayal and Europe's response -- Trump's increasing support for Russia leaves Zelensky with fewer options to secure US backing -- Ukrainian drone reportedly attacks oil depot in Russia's Chuvashia for first time -- and more

writeworks.uk/~/UkraineDaily/U

writeworks.ukUkraine Daily summary - 2025JD Vance's cousin, former volunteer fighter in Ukraine, condemns VP's 'ambush' of Zelensky -- [vblog] Trump's betrayal and Europe's response -- Trump's increasing support for Russia leaves Zelensky with fewer options to secure US backing -- Ukrainian drone reportedly attacks oil depot in Russia's Chuvashia for first time -- and more
שרשור מתמשך

The dismissed cases “underscore why the #CFPB’s work is so essential to investigate practices that are draining hard-earned #money from the pockets of everyday people,” Lauren Saunders, assoc dir of the Natl Consumer #Law Center, said….

The CFPB’s #consumer-complaint system is already suffering. #Senate #Banking Cmte #Democrats released a report Tues that found an 80% drop in the processing of consumer complaints in the first weeks of the #Trump admin.
#Musk #economy #regulation #kleptocracy

Online #banking goes down on payday again.. wasn't it this time last month too?

Be interesting to see if this happens at next month's payday. Once is unfortunate, twice suspicious, thrice ? Well I'd say it smells a bit Russian.

Luckily I have enough cash on me today but I'm out in London with my wife. Can't access my salary at the moment. Grrrr

#ClimateChange should be incorporated into ‘daily decision-making’: JPMorgan

Investments and innovation in climate technology have increased, but “changes in leadership, economic conditions and ... stagnation” have stalled progress, a bank executive wrote

esgdive.com/news/climate-chang

ESG Dive · Climate change should be incorporated into ‘daily decision-making’: JPMorganמאת Zoya Mirza

Over £276bn is held in non-interest paying bank accounts which means, essentially banks are saving annually (taking a conservative rate of 2.5%) around £7bn for money they can use on the basis that it is an asset lodged with them.

Sure, they have to have some capital adequacy, bu that's hardly an impediment to short term use of these funds... for instance in the standard practice of B&Bing money on overnight money markets....

Once again financial services are fleecing us!

#banking
h/t FT