Readers react to President Trump considering a credit union regulator to head of the Consumer Financial Protection Bureau, debate a delay for top banking nominees, opine on the value of blockchain, and more.
The Trump administration should not name J. Mark McWatters as head of the consumer agency, given his lack of experience overseeing commercial banks and his leadership of the National Credit Union Administration, a cheerleader for the industry it supervises.
American Banker comprehensively covered the impact hurricanes Harvey, Irma and Maria had on banks and their customers, including on-the-ground reporting and analysis.
Customers saw transactions recorded multiple times and experienced drained accounts and long hold times. It’s a warning to all financial institutions as they head further into mobile-only banking — glitches are more visible and painful and need to be addressed faster than ever.
Attorney General Jeff Sessions’ decision to rescind an Obama-era directive that helped foster the marijuana sector’s growth raises new risks for banks and credit unions that do business with growers and dispensaries.
The OCC said Thursday that the bank has yet to fully meet the conditions of a 2012 consent order requiring it to address problems in its Bank Secrecy Act and anti-money-laundering compliance programs.
