Allon Advocacy, LLC

What’s Next for Trump’s Cabinet Nominees? Our latest blog dives into the complexities of Senate confirmations for President-elect Trump’s administration picks, including Howard Lutnick for Secretary of Commerce, and the challenges facing controversial nominees like Matt Gaetz and Tulsi Gabbard. We break down the Senate confirmation process step-by-step, explore the timeline for approvals, and highlight historical precedents of withdrawn or rejected nominees. Did you know? Only nine cabinet-level nominees have been rejected in U.S. history. ?? Read the full blog for insights into what’s ahead: https://lnkd.in/esmhb4B6 What are your thoughts on the nomination process or these recent picks? Share below! ??

Personnel Is Policy: Trump Administration Takes Shape: One week after winning re-election, President-elect Trump is already building his team. From potential regulatory shakeups to high-profile appointments, the administration's decisions will set the tone for the next four years. Key insights: - Expect changes at agencies like the CFPB, SEC, and FDIC as top officials are replaced. - A focus on deregulation is likely, with a freeze on new rules and shifts in regulatory priorities. - Big names are in the mix for key roles, including Treasury Secretary, EPA Administrator, and Defense Secretary. Read more about the personnel shifts and the impact on policy in our latest blog: https://lnkd.in/e3mqJTkV Let us know your thoughts on these changes and their potential implications! #Policy #Regulation #OpenFinance #Politics #FinancialServices

About Last Night: The 2024 Elections Are Over – What Comes Next? The election cycle is officially behind us, and if it feels quieter today, it may be because Vice President Harris and former President Trump have stopped texting for campaign contributions! The results? A huge night for the GOP, with former President Trump projected to return to the White House, the GOP seizing the Senate, and a likely narrow hold on the House. As we look ahead, here’s a breakdown of the major shifts in policy that may lie on the horizon: ?? Tax & Tariffs: Trump’s promises to extend tax cuts and impose tariffs to protect U.S. manufacturing have a clearer path with Republican control. ?? Consumer Financial Services: Expect significant changes at the CFPB. It’s likely Director Rohit Chopra will be replaced, reshaping rules on bank overdraft fees, open banking, and more. ?? The SEC & Crypto: Crypto may see a new ally in Washington. The SEC, under a Trump-led GOP, could soften its stance on crypto regulation and ease requirements for public companies. Full recap ?? https://lnkd.in/emKAmRED #Election2024 #PolicyChanges #Tax #CFPB #SEC #FinancialServices

Halloween week brings more than just frights – it’s the final stretch before Election Day 2024. In our latest blog, we dive deep into where the presidential race, Senate contests, and House control stand in the final days. With close polls and the rise of “ghost voters” (the hidden force that could swing outcomes!), this election is set to keep us all on the edge of our seats until the very end. Read our last pre-election breakdown to see the issues, trends, and surprises shaping the landscape ?? https://lnkd.in/e6ytTvhk #Election2024 #ElectionCountdown #Vote2024 #ElectionAnalysis #Polls #GhostVoters

Exciting news in #OpenBanking! Steve Boms, Founder of Allon Advocacy and Exec. Director of FDATA North America, shared insights on the new CFPB rule strengthening consumer data privacy and reshaping bank-fintech dynamics. Steve said the rule ensures that consumer data use is consent-driven and time-limited, promoting transparency and giving consumers more control over their financial data. He noted it's a big step towards creating a fairer, more competitive market that lowers fees and broadens access to financial services. Read more about how this rule is set to shape the future of finance in the U.S.! #DataPrivacy #Fintech #FinancialInclusion #CFPB #AllonAdvocacy #FDATA

?? The Consumer Financial Protection Bureau has introduced a game-changing rule to transform how consumer financial data is managed in the US. ?? In an exclusive interview with The Paypers [check comments], Steve Boms, Founder of Allon Advocacy, LLC, breaks down what this means for consumers, banks, and fintech. ???? ?????? ??????????????????: ?? ???????????????? ???????? ??????????????: consumers can now approve, track, and revoke third-party access to their data, putting privacy first. ?? ?????????? ???? ??????????????????????:?free data transfers between providers mean more options and lower fees for consumers. ?? ????????-???????????? ????????????????: the rule bans 'bait-and-switch' practices and ensures data is used only for the specific purpose agreed upon by the consumer, preventing unauthorised secondary uses. This protects consumers from unexpected data exploitation. ??? ?? ?????????????????????? ?????? ?????????????? ??????????:?with Open Banking, smaller banks can now reach customers beyond local areas, levelling the playing field and providing competitive advantages in the industry, more options, and innovation. ???? ?? ???????????????? ?????????? ???? ???????? ??????????????: while this rule focuses on Open Banking, the CFPB envisions future rules toward a comprehensive Open Finance model, covering broader financial products and services for US consumers. The journey has only just begun. ?? Steve Boms also touches on ?? compliance timelines for banks, potential new collaborations between banks and fintechs, and the vast consumer benefits ahead. Don’t miss the full interview for insights on how this rule will shape the future of finance, competition, and consumer rights. ? #OpenBanking #consumerprivacy #fintech #CFPB #dataprotection #financialinnovation #US #regulation #datasharing

Happy 1033 day to those who celebrate. Here are the best analyses I have read thus far (updated 10.23.2024): - Kate Berry at American Banker (of course): https://lnkd.in/g8Vr6Qah - Matthew Janiga at Trustly (double of course): https://lnkd.in/gmTFZFDk - Carter Pape's piece in today's American Banker does a nice job of delving into certain data privacy and security aspects of the rule: https://lnkd.in/gBcBiuWg - Jordan Wright at Atomic: Just experimenting w/ this "1033 GPT" and it's pretty slick: https://lnkd.in/gthMxaSd - Joshua Franklin at Financial Times with a transatlantic perspective: https://lnkd.in/gQ429vJW - Allon Advocacy, LLC published a great summary memorandum in native format (easily searchable on this app) - PYMNTS with a tidy analysis here: https://lnkd.in/gMhbcPcc I'm sure there will be some more great content coming out the rest of this week. I'll try to keep posting all of the best content I find as it comes to me. I'll also probably write a long form of my own at some point once I've finished reading the rule and had some time to digest. Stay tuned! #1033 #openbanking

As Election Day 2024 approaches, the outcomes for the White House and Congress are still too close to call. With the stakes high, experts predict that counting could take longer than in 2020, and recounts or court challenges may come into play. In our latest blog, we explore potential post-election scenarios, from extended vote counts to the possibility of an Electoral College tie. Dive in for insights into what the days and weeks after Election Day could look like! Read more ?? https://lnkd.in/guteba_3 #Election2024 #PostElection #Vote2024 #ElectoralCollege #Recounts #ElectionAnalysis

With less than three weeks until the 2024 Election, attention is shifting to the upcoming lame-duck session of Congress. A key issue? The stalled Kids Online Safety Act (KOSA) in the House, despite overwhelming bipartisan support in the Senate. Why are some lawmakers opposing KOSA, and what could this mean for broader federal data privacy efforts? As the debate continues, states are stepping up with their own data privacy laws, but is this patchwork approach enough? Read our latest blog to explore the implications of KOSA's opposition and what it means for the future of data privacy legislation. https://lnkd.in/eTE3tvZG #DataPrivacy #KOSA #Legislation #Election2024 #FDATA

Checking the Polls – The 2024 elections are just 27 days away! Curious about what the latest polls reveal? We've broken down the numbers and analyzed key races for the White House, Senate, and House of Representatives. From the presidential race to Senate battlegrounds, this election is too close to call! ?? Dive into the details in our latest blog and get a snapshot of where things stand just weeks before Election Day. Read here: https://lnkd.in/e99NPr8q #Election2024 #PollingAnalysis #PoliticalTrends #WhiteHouse #SenateRaces #HouseRaces #USPolitics