BankThink

Morning Scan: Mnuchin Talks Regulation, Taxes; Subprime Auto Woes

12/01/16

Receiving Wide Coverage ...

Mnuchin speaks: Steven Mnuchin discussed his views on regulatory and tax policies Wednesday after being named President-elect Trump's designated Treasury secretary. Speaking on CNBC, Mnuchin said he would focus on rolling back parts of the Dodd-Frank financial reform law. "The number one problem with Dodd-Frank is that it's way too complicated and cuts back lending," he said, adding, stripping back part of the law "will be the number one priority on the...

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Security Must Be First Priority in Screen-Scraping Debate

11/30/16

Consumers' providing bank credentials to third-party services is akin to handing over their house keys. To mitigate screen-scraping risks, banks and fintech companies must first address issues related to security, transparency and control.

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Dumping Dodd-Frank Could Restore Executive Accountability

11/30/16

Post-crisis regulations were not only costly but may have undermined executive accountability by turning CEOs into compliance managers instead of drivers of business decisions.

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Morning Scan: Bankers Warm to Trump; Closing Branches Could Backfire

11/30/16

Receiving Wide Coverage ...

Wall Street ties: Steven Mnuchin, a former Goldman Sachs executive, is expected to be named Treasury secretary by President-elect Donald Trump. "Mr. Mnuchin's Wall Street pedigree presents a contrast with the populist themes Mr. Trump struck in his campaign, railing against big banks and vowing to close tax loopholes that benefit hedge funds," the Wall Street Journal commented. "Mr. Trump also repeatedly attacked his rivals in the primary and general elections for...

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Shortchanged by Short-Termism

11/29/16

Americans could have significantly more money saved for their retirement, if not for all the fees that the asset management industry charges. What's worse is most savers are unclear how much they are paying, to whom, and for what. The authors of "What They Do With Your Money: How the Financial System Fails Us and How to Fix It" propose some changes that they say would not only help the economy grow faster but improve corporate America overall.

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Loss of Regulatory Appetite Is Not Limited to U.S.

11/29/16

Signs point to international regulatory reform having passed its peak, with European regulators delaying policies and agitating against further Basel III rules.

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IRS Quest for Coinbase Data Sets Dangerous Precedent

11/29/16

The Internal Revenue Service's petition for information on Coinbase customers is an overreach that should concern Americans regardless of whether they use bitcoin.

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Morning Scan: Rogue Agency or Sheriff?; Stripe Could Lift Fintech

11/29/16

Receiving Wide Coverage ...

Differing views: The Wall Street Journal's editorial page had some strong words about the Consumer Financial Protection Bureau, the "rogue" bureau "which has abused the law and whose structure was recently found unconstitutional. By all rights the bureau should be killed," it says, and "Mr. Trump should dismiss [Director Richard] Cordray on his first day as President." "Reform options short of a death sentence could at least restrain some of the bureau's...

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Five Ways Trump Can Use Fed to Aid American Workers

11/28/16

The president-elect could take aim at the Federal Reserve's ties to Wall Street, bailout authority and other reforms if he really means to take steps to help working people.

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Nonbank Mortgage Lenders Must Bring 'A' Game in Trump Era

11/28/16

The election results will only intensify factors making competition with bank lenders more difficult, including the effect of interest rates as well as the regulatory environment.

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