Finally, senior policymakers are focusing on negative equity. But the answer to the problem is to change borrowers' incentives, not to abrogate contract and property rights.
The regulator's recent report highlights supposedly high-priority concerns about small banks without mentioning the size, concentration and real risks of the megabanks.
The credit card industry's proposed deal to settle long-pending retailer lawsuits set insiders chattering, divided over how much each side won and lost in the deal.
Directors and officers liability coverage is an unpopular topic of conversation at board meetings. But directors who shirk their responsibilities in this area may one day find their claims denied.
Why would a bank issue prepaid debit cards to its customers? It's an inferior product for consumers and banks alike. Issue prepaid credit cards instead, with four times the interchange.
Big banks' boards keep missing increased risk and poor internal controls. Their auditors, supposedly shareholders' first line of defense against poor financial disclosure, material misstatements and fraud, have been silent.
Due to ever-increasing compliance requirements, consumers have already lost free checking. Now, the Bureau's sights are set on general purpose reloadable prepaid cards.
