BankThink

The danger posed by the Federal Reserve is in its unchecked power coupled with its inability, like that of any institution, to predict the future.

The debate over whether signatures or PINs are a stronger security feature overlooks the fact that neither is the most important defense against fraud.

New York Times

Big banks have been working behind the scenes, and making considerable progress, in taking over the home loan market from Fannie Mae and Freddie Mac, Gretchen Morgenson writes in the Times. The effort has been led by a group of professionals who have walked the revolving door between the private sector and public sector; including Michael Berman, a consultant to real estate lenders and David Stevens, head of the Mortgage Bankers Association. ...

Attempts to sneak provisions into a final budget deal may be sold as helping community banks, but many of the measures really help big banks and undermine consumer protection.

Breaking News This Morning ...

Employment Report: Just moments after the November payroll numbers came out Friday, observers noted the Federal Reserve should now have enough ammunition to raise interest rates. The U.S. added 211,000 jobs in November, and October's already stellar payroll figure was revised upward to 298,000 from 271,000, the Wall Street Journal reports. September also received an upward revision to 145,000 from 137,000. The unemployment rate stayed at 5% in November, which the...