BankThink

How Yellen Threw a Key Fed Staffer Under the Bus

02/26/15

During Congressional testimony this week, Fed Chair Janet Yellen was sharply questioned about remarks made by Fed General Counsel Scott Alvarez expressing mild concern about a provision of Dodd-Frank. Yellen didn't defend Alvarez Â-- or note that his comments actually reflected the view of the board.

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Consumers and Businesses Would Pay the Price for Obama's Bank Tax

02/26/15

The Obama administration's proposed bank tax would apply to all liabilities of large financial institutions Â-- including their deposits. It's bad policy to tax the funding that banks use to make loans to consumers and businesses.

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An Open Letter to Elizabeth Warren on the Future of Community Banks

02/26/15

The Massachusetts senator recently argued that community banks have little need for regulatory relief. But a closer look at recent FDIC data shows that the health of small banks has taken a turn for the worse in the aftermath of Dodd-Frank.

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Morning Scan: Yellen Confronts Partisan Charges; Is Lending Club Overrated?

02/26/15

Receiving Wide Coverage ...

Morgan Stanley Strikes Deal with DOJ: Morgan Stanley has agreed to pay $2.6 billion to settle charges that it misled investors about the quality of mortgage-backed securities during the run-up to the financial crisis. The deal will make a significant dent in the bank's 2014 earnings, lowering net income by $2.7 billion, or more than a third. The amount of the penalty was higher than analysts expected, according to the Wall Street...

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Wall Street Bankers Shouldn't Be Too Big to Prosecute

02/25/15

By prosecuting executives responsible for banks' misdeeds, the DOJ can curtail illegal activity and restore public trust in big banks Â-- and in the law itself.

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Puerto Rico Bankruptcy Bill Would Change Rules on Creditors Midstream

02/25/15

Congress should end Puerto Rico's exclusion from federal bankruptcy protection Â-- but it's unfair to leave the territory's existing creditors in the lurch.

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Morning Scan: Fed Flexible on Rate Hike; JPM Battles Calls for Break Up

02/25/15

Receiving Wide Coverage ...

The Oracle of D.C.: The papers offer varying interpretations of Federal Reserve chair Janet Yellen's testimony before the Senate Banking Committee. The New York Times says Yellen sought to give the central bank leeway in the timeline of its interest-rate increase. Fed officials could firm up plans to raise rates as soon as June at a March policy meeting, but "Yellen emphasized that patience remained the Fed's watchword, and that the persistence...

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Community Banks Need Sleeker Approach to Small-Business Lending

02/24/15

A more efficient, customer-friendly process for small-dollar commercial loan requests is a matter of competitive necessity for most community banks.

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Small-Dollar Lending Need a Dash of Apple Pay's Glamor

02/24/15

The finance and technology industries should take some of the energy they've poured into mobile payments and put it toward making small-dollar loans more affordable.

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Morning Scan: HSBC Problems Aplenty; Precious Metals Probe Targets 10 Banks

02/24/15

Receiving Wide Coverage ...

HSBC Sweats in the Spotlight: The hits keep on coming for HSBC. The U.K. bank on Monday announced subpar earnings for 2014 and lowered its financial targets, while chief executive Stuart Gulliver was pummeled with questions about the $7.7 million he opted to hold in a Swiss bank account through a Panamanian company until 2003. Tax experts tell the Times that Gulliver's arrangement was legal, but it's not terrific press for a...

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