BankThink

CFPB Drops a Load of Rules on Mortgage Servicers; JPMorgasbord

01/17/13

Breaking News This Morning ...

Earnings: Bank of America, BB&T, Citigroup, Fifth Third, Huntington, PNC Receiving Wide Coverage ...

CFPB to Unveil New Servicing Rules: Among other significant changes, mortgage servicers will have to wait until a borrower is 120 days delinquent before initiating the foreclosure process under the rule, which preempts state foreclosure laws. The rule will also ban "dual tracking," in which servicers start foreclosure while a loan modification is being processed. Several articles quote consumer...

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Governments Should Choose Growth Over Regulation

01/17/13

Taking money from available funds to reserve against "Too Big to Fail" may save the banks, but put the countries and their economies into recession.

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Governments Should Choose Growth Over Regulation

01/17/13

Taking money from available funds to reserve against "Too Big to Fail" may save the banks, but put the countries and their economies into recession.

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The Real Reason to Worry About Basel III Liquidity Rules

01/16/13

No, the standards weren't "watered down," media hype notwithstanding. But the Basel Committee is considering a complete pass for banks with government lifelines. This would enshrine "too big to fail."

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Stop Telling Canards About CRA

01/16/13

A new paper dredges up a tired argument against the Community Reinvestment Act, which played an important role in sustainably expanding home lending to many Americans. Let's move on already.

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How to Fight Back Against Bad Agency Decisions

01/16/13

If a regulator overreaches its stautory authority, fails to adequately weigh costs against benefits or tries to hold the bank to arbitrary or capricious standards, you've got a case.

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Foreign Banks Rejoice: Overreaching U.S. Tax Law in Trouble

01/16/13

The ill-conceived tax act is in direct conflict with many foreign laws, and would be another hammer blow to America's fragile economy since it would dramatically reduce foreign investments.

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JPM's Teachable Moment; Bonus Blues at Both Houses of Morgan

01/16/13

Breaking News This Morning ...

Earnings: JPMorgan, Bank of New York Mellon, Comerica, M&T, Northern Trust, U.S. Bancorp, Goldman Sachs

JPMorgan Potpourri: CEO Jamie Dimon's compensation has been cut, as expected. The company also released management and board reports on the London Whale trading loss. "This incident teaches a number of important lessons that the Firm is taking very seriously," the report says. Receiving Wide Coverage ... ...

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Why the Tax Gap Means Hassle for Banks in 2013

01/15/13

Regulatory changes to the 1099-B, 1099-K and 1042-S forms, intended to help reduce the $450 billion tax gap, will make it much more difficult to avoid penalties and tricky customer service issues.

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Dimon's Pay Should Reflect Missteps Beyond the London Whale

01/15/13

If the JPMorgan Chase board docks CEO Jamie Dimon's compensation only for the London Whale's trading loss, he should consider himself fortunate that they are so myopic.

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