Bank managers are far more willing to add things requiring their teams' time and attention than to ever eliminate entrenched practices of dubious value.
Under a recently-enacted law, Obama is to reduce Iranian oil revenue by punishing banks that make payments to Iran's central bank. This use of the payments system raises fundamental issues.
The crisis understandably pushed the debate surrounding our global financial competitiveness to the back burner. The poor state of the U.S. economy, however, should provide the reason to renew this debate now.
The foreclosure reviews mandated by the Fed and the OCC have a better chance of helping current and future borrowers than the state attorneys general settlement, if it ever happens.
Historically, regulators and bankers would have made a strong case that this kind of supervisory effort, however important, should absolutely be kept private.
Richard Cordray is right to crack down on illegal practices in payday lending. It is essential that his agency also ensure consumers continue to have online access to emergency credit products.
I naively thought that Suze Orman's new prepaid offering would help turn the tide of negativity. Instead, it has had the opposite effect, creating a seemingly endless echo chamber about the evils of prepaid.
Alex Pollock's "Let's Put Checks and Balances on CFPB" is spot on describing the enormous danger of a politically unchecked CFPB lording over consumer financial services.
