Posted on 09/03/2024 5:28:25 AM PDT by daniel1212
Many Americans were surprised to recently see a coalition of the country’s most radical politicians — Sen. Elizabeth Warren, D-Mass., Rep Maxine Waters, D-Calif., and Sen. Richard Blumentha l, D-Conn., to name a few — teaming up to introduce heavy-handed legislation against the peer-to-peer payment companies (like PayPal, Venmo, Zelle and CashApp) that have improved all our lives. Blumenthal even went so far as to dispatch a separate letter to the head of the Consumer Financial Protection Bureau (CFPB) demanding an investigation into Zelle...
The Biden administration brass, especially CFPB Director Rohit Chopra, have fought aggressively to convince the American people to stop using PayPal, Zelle and the like as "substitutes for a traditional bank or credit union account,"...
. Left with no other options to get their way other than government coercion, the administration handed the ball off to its favorite relief pitchers in Congress — Warren, Waters and Blumenthal — to reshape the nation’s laws in their favor.
The resulting new bill that this left-wing cabal released, the Protecting Consumers from Payment Scams Act, would put peer-to-peer payment processors on the hook for every single instance of scamming that occurs on their platform....
The legislation’s sponsors claim this bill is necessary to protect public safety, but everyone knows this argument is completely nonsensical. Scams don’t even comprise a single percentage point of the transactions on these platforms.
(Excerpt) Read more at foxnews.com ...
Crypto currencies will be next.
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As opposed to the scams perpetrated by government-regulated Federal Reserve member banks (Wells Fargo, Bank of America, et al).
Zelle is owned by a group of banks.
More and more moves to consolidate power and control over the people.
I thought PayPal was a darling of the left given some policies that they put in place a couple of years ago.
I LOVE Zelle. Several of my tenants pay through Zelle directly into my rental account. No clawbacks!
“PSI’s investigation has found that Zelle’s three largest owner banks reimbursed victims who reported fraud only 38 percent of the time in 2023—a decline from 62 percent in 2019. In terms of dollar value, this translates to over $100 million worth of transactions disputed as fraud not reimbursed each year from 2021 through 2023.
“PSI also found that, in 2020, JPMorgan reimbursed just three transactions out of 41,390 scam disputes that year, Wells Fargo did not reimburse any of the 25,061 scam disputes, and Bank of America did not track scam data as a separate dispute category until the second half of 2020. In 2023, the Three Banks reimbursed victims of scams only 12 percent of the time.”
“I thought PayPal was a darling of the left given some policies that they put in place a couple of years ago
It was started by Elon Musk. They hate him now that he supports Trump.
Crypto currencies will be next.
———-
US .gov is pursuing a sovereign government cashless currency ( CBDC) and they will attack private digital currencies when “ theirs “ is in place, they hate competition, and want to control with the flip of a switch every penny we spend.
Private digital currency will be first demonized, then taxed ( that is what all this is about- taxes on everything , even the air we breathe) to oblivion, eventually being abolished.
A US government CBDC ( cashless) must be fought with every ounce of strength. It is pure Evil.
more:
As payment fraud skyrockets, the legislation would update the Electronic Fund Transfer Act (EFTA) to clarify ambiguities and strengthen the law to better protect consumers harmed when they make payments. Specifically, it would protect consumers when they are defrauded into initiating a payment sent to a bad actor, when they lose funds through fraudulent bank wire transfers, and when their accounts are inexplicably frozen or closed.
“Zelle’s speed and convenience have made it a target for bad actors looking to trick unsuspecting consumers out of their hard-earned money,” said Senator Blumenthal
[Crypto currencies will be next.]
I think so too.
The only thing that will be eventually allowed will be government CBDCs all around the world - and those will be eventually combined into a GLOBAL CBDC /shiny side out
[More and more moves to consolidate power and control over the people.]
I say that is prophesied in the Bible - and it will not be stopped from coming - it’s already been written long ago (this would have been from over 2,500 years ago)
Daniel 7:23
King James Version
23 Thus he said, The fourth beast shall be the fourth kingdom upon Earth,
which shall be diverse from all kingdoms,
and shall devour the whole Earth,
and shall tread it down,
and break it in pieces.
https://www.biblegateway.com/passage/?search=Daniel+7%3A23&version=KJV
Daniel 7:24 King James Version
24 And the ten horns out of this kingdom
are ten kings that shall arise:
and another shall rise after them;
and he shall be diverse from the first,
and he shall subdue three kings.
https://www.biblegateway.com/passage/?search=Daniel+7%3A24&version=KJV
10 kings - likely directing 10 divisions (IMHO)
The little horn shall subdue 3 of the kings
More and more moves to consolidate power and control over the people.
—————
Keep in mind the next financial crisis ( now looking to be historic) will have people begging for a CBDC ( cashless system)….they will say your SS, Pensions, 401’s are now worthless or worth much less, BUT we can fix it by going to our cashless system, it will “ save” the system.
The masses will flock to it, just look at the Covid vax hoax panic- the masses flocked to a dangerous and ineffective jab.
Across ‘The Pond’:
The new requirements will prompt a step change in the culture of payments to improve fraud prevention and focus all firms on protecting people.
There will be new rules in Faster Payments – the payment system across which the vast majority of APP fraud currently takes place – strengthening Pay.UK’s ability to tackle fraud.
All payment firms will be incentivised to take action, with both sending and receiving firms splitting the costs of reimbursement 50:50.
Customers will be more protected under consistent minimum standards, with most APP fraud victims being reimbursed within five business days and additional protections offered for vulnerable customers.
Industry will have clearer guidance to follow, including around the ability to apply a claim excess and maximum level of reimbursement
https://www.psr.org.uk/our-work/app-scams/
Ironic since the founder of Pay Pal is a lefty and a huge contributor to the democrat party.
[A US government CBDC ( cashless)]
This commercial says it was signed by EO 14067 by Democrat Joe Biden in 2022 - surprisingly, YouTube kept recommending this and I finally watched it way back
Biden’s EO 14067
This video is actually worth watching the portion I recommend - this ain’t going away
Biden already signed EO 14067 March 9, 2022.
The Digital Dollar will save us! Yeah, That’s the ticket!
(worth it to watch just the first 17 minutes - there will be no way to “prosper”, though)
Yes, I recommend watching the first 17 minutes of this video
The Jim Rickards Commercial - Jul 5, 2022
https://youtu.be/fCfzQNhi_ns?t=0
(Google’s YouTube, amazingly, kept popping this up on my recommended playlist on the side - so I finally watched the beginning of it - ignore the sales pitch and watch the first part I recommended above)
FASCISM
Not true. https://en.wikipedia.org/wiki/PayPal
Paypal itself is far left so I’d be quite happy to see them crushed.
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