BankThink

Weekly Wrap: The Costs of Being Poor; Rethinking Customer Service

06/06/14

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

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The CRA Is Not a Fair Lending Law

06/06/14

Repurposing the CRA to root out discrimination based on race and ethnicity risks undermining the CRAÂ's primary objective: to encourage banks to provide credit-related services in lower-income communities.

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Morning Scan: B of A's Mortgage Settlement; BNP's Global Intrigue

06/06/14

Receiving Wide Coverage ... Put It on the Tab: Bank of America is in talks to pay $12 billion to settle Department of Justice and various state probes over legacy mortgage stuff, the papers report, citing the usual anonymice. Of that, $5 billion would be "soft money" in the form of consumer relief such as mortgage writedowns. Combined with a previous $6 billion settlement with FHFA, this deal would bring B of A's total tab forÂ...

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What I Learned While Pretending to Be Unbanked

06/05/14

A reporter spent a day trying to cash checks, send money and complete other financial transaction without the use of a bank account. He was surprised by what he saw.

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Preventing a Subprime Small Business Bubble

06/05/14

Alternative lenders provide a necessary service to small business ownersÂ--but some loans carry excessive costs. Financial innovation and greater competition can help bring prices down.

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Morning Scan: ECB Holds Rates Steady; Rackoff Decision Reversed

06/05/14

Receiving Wide Coverage ...

Same Old: The Bank of England decided once again to leave its benchmark interest rate unchanged at 0.5%, even as the British economy appears to be gaining steam. The British central bank under the stewardship of Governor Mark Carney also left its stimulus program unchanged continuing to hold about $628 billion in government bonds it has purchased over the past five years. ...

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Customer Service Won't Save Community Banks

06/04/14

Community banks consider customer service their big advantage against larger competitors. But that strategy may not be working.

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When a Big Cyberattack Comes, Will Banks Be Covered?

06/04/14

Some cyber-risk insurance policies could prove insufficient in the event of large-scale attack.

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Morning Scan: Turning the Screws on BNP Paribas

06/04/14

Receiving Wide Coverage ... Regulatory Overreach? Some bank regulators are plunging the depths of the financial system to determine whether they can add on to the steep fine facing BNP Paribas, which has been charged with processing payments for companies and countries sanctioned by the United States. The Times points to rumors that Benjamin Lawsky, New York's Department of Financial Services, is considering a temporary suspension on BNP Paribas' dollar clearing. "The fact that regulators areÂ...

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A Debt-Collection Solution That Everyone Can Get Behind

06/03/14

A proposed bill would allow banks to receive a one-time tax credit for charged-off consumer debt. Banks would then donate the debt to non-profits dedicated to helping consumers repay their loans without resorting to litigation or charging interest.

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