In an era of increasingly complex financial products, banks should focus more attention on how to explain to consumers what's in their wallets, especially given the sorry state of most disclosure forms.
Why does HARP 2.0 continue the incrementalism that marred the first incarnation of the refi program and many of the housing policies the president has put forth?
The bank's plan to convert troubled loans to rentals will benefit all concerned. A special unit for servicing toxic assets can help, if run wisely. Principal reductions could seriously backfire.
Even though credit unions are the ideal lenders for the smallest of the small businesses they are limited in the amount of business loans they can extend to their members because of an arbitrary cap.
I was at the counter of the local UPS store notarizing a document when I was shocked by the comment of another person standing nearby: "I would like to make a deposit."
Lawyers, compliance experts and model builders came up with new credit screens based on estimates of income. This additional step has led to much more cost and much less credit.
Audit committees must follow rules already on the books that charge them with hiring and firing auditors. That includes booting an auditor that allows executives to put banks at risk of failure for their own enrichment.
Behind closed doors they live in a constant state of fear, ducking calls from bank and servicing representatives, opening certified letters with shaking hands.
It is time to swear off the federal subsidy trough and reclaim the high ground in the battle to end too-big-to-fail. If we work together, we may even force the breakup of the largest banks.
Before moaning about unbanked consumers and their supposed lack of financial literacy, bankers, federal regulators, lawmakers might consider that there once was a product that targeted this situation.
