BankThink

Keep Down Payments Out of QRM Rule

10/17/13

Where possible, regulators should avoid establishing static, prescriptive criteria that do not give lenders the ability to consider compensating factors in meeting the financing needs of qualified borrowers.

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U.S. Shutdown Ends; JPM and CFTC Make 'Whale' Settlement Official

10/17/13

Breaking News This Morning ...

Earnings: Goldman Sachs, BB&T, Fifth Third, Huntington Receiving Wide Coverage ...

Reopened: Congress Wednesday passed a bill to fund the government through January 15 and raise the debt ceiling until February 7. This ends the government shutdown, with offices re-opening today. The Washington Post reports that the deal averts catastrophe, but leaves the U.S. economy open to new threats, given its accompanying "kick-the-can-down-the-road" deadlines. More big picture coverage is here: Wall Street Journal,...

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What Yellen's Ascension Means for Fed's Tarullo

10/16/13

Fed watchers are sharply divided over whether Yellen will rely on Tarullo to set banking policy for the central bank or if she will marginalize him. But there's a bigger question that matters more.

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How the Shutdown Undermines U.S. Cybersecurity Efforts

10/16/13

An executive order in February tapped cyberthreats as one of the most serious national security challenges our nation faces. Too bad most cybersecurity personnel were furloughed as part of the shutdown.

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Regulators Must Stop Policymaking-by-Enforcement

10/16/13

If the states are determined to reform force-placed insurance and the CFPB is determined to reform add-on products, they should propose rules and subject them to meaningful public notice and comment periods.

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Buyer Beware: Why Today's Bank M&A Environment Raises Red Flags

10/16/13

Acquisitive banks have frequently used the "accretive to earnings" pabulum to sway shareholders and justify overpriced transactions. This has created an illusion of acquisition value that is detrimental to the market.

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B of A Earnings; Second Take on Citi; JPM's Latest 'Whale' Fine

10/16/13

Breaking News This Morning ...

B of A Earnings: Bank of America continued the mixed bag of big bank earnings this morning, reporting an increase in third-quarter profit due to improved credit quality, which offset weak fixed income and a decline in mortgage revenue. Wall Street Journal, New York Times, Financial Times ...

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CFPB Remittance Rule Is a Huge Win for Migrant Workers

10/15/13

Consumers will have more confidence in the formal system of money transfers once they are given clear information about how much money will actually be available on the receiving end.

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Bankers and Processors Are Not Moral Police

10/15/13

Monitoring fraud and deception is an immense undertaking for third-party payment processors and banks. Trying to make them into first responders to various social pathologies is a step too far.

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Citi Posts Disappointing Earnings; Decrying and Defending Jamie Dimon

10/15/13

Breaking News This Morning ... Citi Earnings: Citigroup's third-quarter earnings are out and the quick take is that results are disappointing, thanks to a slump in bond trading and a decline in mortgage revenue. "Third-quarter net income, adjusted for certain items, slipped to $3.26 billion, or $1.02 per share, from $3.27 billion, or $1.06 per share a year earlier," Reuters summarizes. "We performed relatively well in this challenging, uneven macro environment," CEO Michael Corbat said in…

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