Scott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason University. Chad Reese is the assistant director of outreach for financial policy at the Mercatus Center.
It is wrong to claim the Federal Reserve's proposal requiring "total loss-absorbing capacity" will perpetuate the "too big to fail" problem. Indeed, it is just the opposite.
Richard Cordray, the director of the Consumer Financial Protection Bureau, takes issue with American Banker 's recent story about errors in the agency's complaint database.
With the Consumer Financial Protection Bureau's disclosure rule potentially slowing down the loan process, institutions need to focus on communication strategies to keep young borrowers at the closing table.
There is no shortage of opinions about payday loans. But the same cannot be said for hard research, which is needed before regulators write new rules for the industry.
Evidence points to thousands of arbitrations for individual claims in recent years, and there likely would have been more if not for negative publicity about arbitrations.
The industry deserves credit for rebuilding the Deposit Insurance Fund after the crisis, but victory is far from achieved in preparing agency reserves for the next crisis.
