BankThink

Let's Keep the CFPB Leaderless

07/21/11

Are we really hell-bent to hear what the CFPB is going to say is "unfair?" Let the bad times roll!

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CFPB Needs a Commission, Not a Director

07/21/11

If the CFPB were led by a commission instead of a single director, it would minimize the possibility of extreme positions.

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Why Reinvent the Wheel for Small Business Lending?

07/21/11

The SBA has been far more sucessful than the Small Business Lending Fund. Restore its budget and the 90 percent loan guarantees.

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The Scan for Thursday, July 21

07/21/11

Receiving Wide Coverage ... Dodd-Frank Birthday Bash(ing): The retrospectives keep coming. For those who've been living in a cave for the last few months, the Journal reports that whether the law ended "too big to fail" is a matter of debate. Meanwhile the Times' Dealbook interviews Barney Frank and (for the hibernators' benefit) provides a quick summary of bankers' objections to the law. Here's Frank's response to criticisms that the law is too vague: "It's precisely...

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SEC Provides an Enforcement Roadmap for the CFPB

07/20/11

One early measure of the bureau's commitment to transparency and fairness will be how it approaches its own enforcement processes.

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How to Fix Mortgage Servicing

07/20/11

The business is overconcentrated at megabanks and must open up to specialty players that are better equipped to handle distressed loans.

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The Scan for Wednesday, July 20

07/20/11

Breaking News This Morning ... PNC, USB and M&T: "PNC Financial Services Group Inc., U.S. Bancorp and M&T Bank Corp. notched solid second-quarter profit gains as the three regional lenders continued to see marked declines in the funds reserved to cover potentially bad loans." (Journal) Receiving Wide Coverage ... 2Q Earnings: Despite the tepid economy, several big commercial banks sounded hopeful notes about business loan growth, the Journal reports. "KeyCorp went as far as to call the period...

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Unhappy Birthday, Dodd-Frank

07/19/11

This octopus of financial legislation continues to entangle both consumers and lenders.

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Shadow System Will Flourish as Banks Are Constricted

07/19/11

The considerable blanket of new regulations for banks will be a boost for the shadow system, which remains free to increase leverage.

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The Scan for Tuesday, July 19

07/19/11

Receiving Wide Coverage ... B of A Posts a Loss: Bank of America reported a loss of $8.8 billion during the second quarter partly due to the $8.5 billion settlement with investors in June who claimed the bank had sold them poor-quality mortgage-backed bonds. The reported loss to shareholders was 90 cents per common share, according to the Post. CEO Brian Moynihan said, "the solid performance in our underlying businesses continues to be clouded by the...

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