"No financial institution's collapse could sink our economy"? Funny. "To accord nonbanks parity with banks, just regulate nonbanks more strictly"? Hilarious. But here's a real howler: "We have to go on subsidizing home building and financing."
The mother of the Consumer Financial Protection Bureau spent much of her recent prime-time performance accusing banks of dishonesty. Perhaps she should take a gander in the mirror.
The courts' indecision as to whether whistle-blowers who report wrongdoing internally are protected by Dodd-Frank sends one clear message: Come forward at your own risk.
Starting Oct. 1, issuers with effective fraud reduction strategies will be eligible to make more money off debit card transactions. To reap the benefits of the Fed's new rule, banks will need to work together.
Under pressure from a regulator solely focused on protecting the consumers' financial interest, many banks have started abandoning suspect practices. Let's keep it that way.
Unpredictable card terms and conditions make it hard for small-business owners to budget. If they can't allocate funds with confidence, they're less likely to hire employees, hurting the economy.
The capital markets are where growth is occurring today and if banks want to be profitable in the future they won't be able to do it solely or even principally by making loans.
Financial institutions that do the same things should have the same oversight. Unfortunately, we're a long way from regulatory parity, even after Dodd-Frank.
Designating certain companies as systemically important accomplishes nothing more than putting them into a closer relationship with the government, making the designation itself a self-fulfilling prophecy.
No one should be surprised that banks would suppress their posted rates in a funding crisis or that they might manipulate the BBA survey for gain. It was easy to see this coming.
