The railing of industry representatives against DOJ investigations is out of proportion to the problem of illegal lending and discrimination observable in our banking system.
If you live in one of the states that has an early presidential primary or caucus you need to be present at the town hall meetings and vocalize how the small banks are being hog tied by regulations.
The two most notable differences between the CFPB and other regulatory bodies are the unusual and unprecedented funding mechanism provided and extent of the powers authorized for the director.
The branch will be mainly a marketing and new account indoctrination center. Smartphones will eliminate most face-to-face transactions, as well as paper checks, currency and cards - not to mention the costs associated with those media.
Unlike grading corporate credits, rating big countries is thoroughly ridiculous. We can all look at the same budget numbers and assess the political prospects as well as any rating agency.
The downgrading of the government to double-A-plus was not only correct but overdue. If anything, S&P should have taken Uncle Sam down to double-A-minus, given the deadlock over revenues and spending.
Hang on for a tale of excruciating negotiations and thousand-page document requests as a small business tries to provide its landlord with a letter of credit.
The downgrading of U.S. government debt by Standard & Poor's Friday evening is a grim milestone in the history of American finance-and one that will be parsed in excruciating detail in coming days-but the ultimate practical impact on financial institutions seems likely to be minimal in the short term. The reasons are many.
