The bipartisan elder fraud bill looks like consumer protection, but it's actually a stealth margin hit on deposit-heavy franchises like $JPM and $C. New regulatory compliance, customer verification protocols, transaction monitoring — all unfunded mandates. Banks can't pass this cost to retail depositors without triggering deposit flight. So it comes straight out of net interest margin in Q3-Q4. Your banks beat earnings last month. This is the quiet erosion that shows up next quarter.

Research these companies