Camden R. Fine
President and CEOCamden R. Fine is president and CEO of Calvert Advisors LLC. He was previously president and CEO of the Independent Community Bankers of America.
Camden R. Fine is president and CEO of Calvert Advisors LLC. He was previously president and CEO of the Independent Community Bankers of America.
With lawmakers bracing for a major policy undertaking to reform the government-sponsored enterprises, they can take comfort that they don’t need to start from scratch.
The risks associated with a megabank collapse still pose huge problems for the industry, despite assurances from the head of the nation’s largest bank.
By cutting back on paperwork requirements and regulatory red tape, policymakers can unleash the power of community banks to spur lending and economic growth.
The National Credit Union Administration rule expanding member business lending introduces new risks and lacks legal basis.
While the Wells Fargo scandal might offer marketing opportunities for community banks, there is concern about regulatory fallout that fails to distinguish between large and small banks.
The suggestion that any area has too many local institutions dismisses the importance of community banks and overlooks the dangerous effects of consolidation.
The Beltway debate between the retail and financial sectors over the electronic payment system has flared up again. While retailers are lobbying Congress to extend government price controls to credit card interchange rates, separate bills would repeal Durbin Amendment ceilings on debit card interchange and strengthen merchant security standards.
Now is the time to correct the mistakes of interchange price controls that harm consumers and community financial institutions to the benefit of merchants.
Real regulatory relief for community banks and stricter oversight of the biggest financial firms are steps that can increase investor interest in new banks.
I bear no hard feelings for the JPMorgan Chase CEO, but our disagreement underscores a rift between how Wall Street firms and community banks view the post-crisis landscape.