Financial Institutions

Clearinghouses in OLA?

05/08/17

In this short paper, I question whether derivatives clearinghouses can be "resolved" under Dodd-Frank's title II "Orderly Liquidation Authorit

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Proof Wall Street Is Still a Boys' Club

03/15/17

A new study finds that, when it comes to truly celebrating women, Wall Street still has a long way to go.

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Jeb Hensarling's Alternative Facts

02/15/17
House Financial Services Committee Chairman Jeb Hensarling (R-Texas 5th) has an alternative fact problem. In a Wall Street Journal op-ed Hensarling alleged that "Since the CFPB’s advent, the number of banks offering free checking has drastically declined, while many bank fees have increased.
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More Evidence that a For-Cause Removal of CFPB Director Corday Would Be Pretextual

02/03/17

If Trump is planning on attempting to remove CFPB Director Richard Cordray "for cause" he's hardly going about it in a smart way.  The Trump administration keeps generating more and more evidence that any for-cause removal would be purely pretextual, which strengthens Corday's hand were he to litigate the removal order (as he surely would).  

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Dodd-Frank and the New Order

02/03/17

Apparently just in time for another missive from the White House – and a bit of a tantrum from the House – I've got a new Dealbook up where I suggest that Orderly Liquidation Authority and title II might be a first target.

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Signature posts healthy profit despite medallion-loan losses

01/19/17

The New York bank weathered headwinds in its taxi-medallion portfolio to post double-digit growth in earnings and net interest income during the fourth quarter.

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Mnuchin to divest; Bank charters for fintech firms?

01/12/17

Mnuchin to divest; fintech firms may be able to get bank charters

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CFPB Commission Structure Proposals

12/29/16

I have an op-ed in American Banker about proposals to convert the CFPB into a commission structure.  Basically, the idea that a commission structure increases accountability and policy stability and reduces arbitrary or abusive actions by an agency just doesn't hold water upon examination.  

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