Diogenes
Nemo me impune lacessit
Ugh. Fauxhahontas's teepee gets heap big, hunts much wampum. Ugh.
The unelected bureaucrats of the Consumer Financial Protection Bureau, whose impetus was provided by a 1/1,024 "Native American", have now issued a finalized version of a rule saying it will soon snoop on non-bank firms that offer you, the consumer, convenient financial services likes payments and wallet apps, including Apple Pay, Cash App, PayPal and Zelle.
While the bloated bureaucracy at CFPB unfortunately had some previous authority over digital payment companies because of their warrantless spying on electronic fund transfers, the new rule they made up allows faceless federal employees to treat tech companies more like banks.
It makes the firms whose services millions of people enjoy subject to “proactive examinations”, empowering government thugs to demand records and interrogate employees even when no probable cause has been established.
Payment apps that only work at a particular retailer, like Starbucks, (a donor to Democrats) are excluded from the rule.
Anybody wanna guess the purpose of this latest example of government overreach?