News Topic: Financial Institutions

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The Financial Stability Oversight Council has proposed to dedesignate Zions Bancorp. as a systemically important financial institution under the Dodd-Frank Act. ... Read full article

What is the difference between a reputational hit that ends up being just a blip, and one that becomes an extinction level event? Following are five ways to assess your exposure. ... Read full article

While Acting Director Mick Mulvaney is apparently on a tear to defang the Consumer Financial Protection Bureau, some of his actions have flown under the radar. In this and future guest blog posts, I will shine light on one key initiative that largely has ... Read full article

ProPublica’s new web site “ Trump Town ” tracks political appointees across federal agencies. In light of the president’s promises to “drain the swamp”, it is interesting to peruse some of the Treasury Department appointees responsible for bank ... Read full article

Or EGRRCPA, for short. That is the official name of S. 2155 , a bill which seems to be tearing Senate Democrats apart . ... Read full article

If you think it's ridiculous that the CDC can't gather data on gun violence, consider the financial regulatory world's equivalent:  S.2155, formally known as the Economic Growth, Regulatory Relief, and Consumer Protection Act, but better ... Read full article

Donald Trump came into office promising, among other things, to “drain the swamp” and get rid of all that corruption.  One year in, how are things looking in terms of swamp draining?  The following is based on work with my super co author, Stephen Choi , ... Read full article

I have a new (short!) paper out,  Bankruptcy's Lorelei:  The Dangerous Allure of Financial Institution Bankruptcy .  The paper, which builds off of some Congressional testimony from 2015, makes the case that proposals for resolving large, ... Read full article

Financial institutions want the customer service delivery and accessibility benefits the cloud offers but are worried about security, compliance, and scalability. ... Read full article

This Tuesday I'm going to be testifying about "fintechs" before the House Financial Services Committee's Subcommittee on Financial Institutions and Consumer Credit.  My written testimony on this impossibly broad topic is here . ... Read full article

A few days ago, I put up a post about a very interesting recent article by Richard Kilpatrick on highly sticky (and inefficiently so) shipping contracts. ... Read full article

Netflix has long interested me as a company, not only because of shows like " Master of None " (Aziz Ansari and Alan Yang have delivered brilliantly), its darwinian management philosophy (very cool podcast on Planet Money), but because of its ... Read full article

The media attention on the Equifax breach has been primarily on consumer harm.  There's real consumer harm, but it's generally not direct pecuniary harm.  Instead, the direct pecuniary harm from the breach will be borne by banks and merchants, ... Read full article

This post diagnoses what went wrong with Equifax and proposes a solution:  a public utility regulation regime for consumer reporting agencies in which the CRAs would be restricted in their ability to pay dividends and executive compensation unless they ... Read full article

I have a more refined piece on the problems with the Madden fix bills in the American Banker .  See here for my previous thoughts.  ... Read full article

Guess who’s sponsoring legislation to facilitate predatory lending? It’s not just the usual suspects from the GOP, but it looks like a number of centrist “New Democrats” are signing up to help predatory financial institutions evade consumer protections.  ... Read full article

Following his appointment of Steven Mnuchin as Treasury Secretary, the President has nominated Joseph Otting, former CEO of OneWest Bank, to be the chief federal bank regulator as head of the Office of the Comptroller of the Currency. ... Read full article