Companies that create goods or enhance existing services are seen as innovative and responsive. Businesses that impose fees without adding value often wind up paying a reputational price.
Three federal agencies are competing for the gold medal in a "regulatory Olympics" over deposit advances. Their proposals would severely constrain banks from offering valuable products and assisting customers.
Too many banks still make too much money at the expense of their customers, and it is one of the biggest reasons the American public has lost faith in them.
Replacing Fannie and Freddie with a federal catastrophic reinsurance agency is smart. Putting the wrong leader like a politician in charge of the new mortgage agency would be disastrous.
Theres no magic potion for providing low-income people with low-cost financial services. But the combination of technology, ingenuity and the capitalist incentive has solved many problems before.
Straightening out bad actors is fine, but it wont resolve the inconsistencies and consumer confusion about overdraft protection cited by the Consumer Financial Protection Bureau.
