BankThink

Shutdown Creates Forecasting Quandaries; Messaging Competition

10/07/13

Receiving Wide Coverage ...

All Shutdown All the Time: The ongoing government shutdown dominated news coverage this weekend. The Wall Street Journal highlighted how government officials and economists are facing forecasting quandaries as the budget impasse delays the release of key data, including the Labor Department's monthly jobs report. A separate article notes that Fed officials are monitoring the shutdown to see if the prolonged stalemate creates any drag on the private sector. Speaking of the...

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Pros and Cons of Online Price Estimators; Best Ways to Regulate

10/04/13

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

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Swipe Fee Ruling an Opportunity to Properly Test Durbin

10/04/13

The Debit Interchange Fee Study Act called for a six-month regulatory study on the cost of the rules and their impact on consumers. There are good reasons to revisit that approach now.

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Citi Fined $30 Million for Early Apple Info Release; CFTC Chair to Step Down

10/04/13

Receiving Wide Coverage ...

Citi Fined: Citigroup has agreed to pay a Massachusetts regulator $30 million for allowing an analyst to share unpublished research about Apple with a handful of hedge funds, including SAC Capital. The Journal calls the case "a vivid example of a problem many critics say isn't going away: sloppy controls over the market-sensitive information flowing between analysts and investors." Dealbook suggests the incident says something about SAC Capital, which was indicted on...

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Regulators Should Refrain from Over-Regulating Overdraft Services

10/03/13

We should instead preserve the right of consumers to choose the products and features that best provide for their family’s daily financial needs, not force them into limited and costly alternatives.

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Bank CEOs Visit Washington; Is Black Market Bust Good or Bad for Bitcoin?

10/03/13

Receiving Wide Coverage ...

Black Market Bust and Bitcoin: Federal agents yesterday arrested Ross William Ulbricht, the alleged ringleader of "Silk Road," an online drug market that accepted Bitcoin, confiscating about $3.6 million of the digital currency. The bust could have serious implications for Bitcoin, which has grown in popularity over the last few years, at least in part, to the expectation of anonymity. "The federal investigation that led to Ulbricht's arrest shows that even purchases...

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Digital Currency Firms Must Act Fast to Tame Laundering Risk

10/02/13

U.S. regulators and law enforcement officials expect risk-based anti-laundering and sanctions programs — no small feat for digital-currency firms, which generally do not know their customers' counterparties.

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Stress Tests for Midsize Banks Are Unnecessarily Stringent

10/02/13

The Dodd-Frank stress testing requirements for midsize banks add to their already considerable compliance burden, with questionable payback in terms of better risk management, at least in the near term.

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Getting Real About Diversity

10/02/13

Given the importance and huge upside of success, the risk of disappointment in a firm's diversity and inclusion efforts must be continuously confronted and overcome.

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Schneiderman (Once Again) Poised to Sue Wells; Wall St. Infiltrates P-to-P Lending

10/02/13

Receiving Wide Coverage ...

New York State Regulatory Update: New York attorney general Eric Schneiderman is pushing forward with plans to sue Wells Fargo for allegedly violating the national mortgage settlement, reports the Times' Jessica Silver-Greenberg. American Banker readers will recall Schneiderman warned Wells and Bank of America of a potential lawsuit over alleged servicing settlement violations back in May. "While Wells Fargo is bracing for a lawsuit, Bank of America is poised to announce a...

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