'As If JPM Has Such a Sterling Reputation': Comments of the Week
March 28, 2014 11:09 AM
American Banker readers share their views on the most pressing banking topics of the week. As excerpted from the Comments sections of AmericanBanker.com articles.
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On lavish spending by CertusBank executives leading to big losses:
"It may be too late to save this ship - with half of the capital gone and no one beating down the doors to invest more, a fire sale may be the only answer."
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On lavish spending by CertusBank executives leading to big losses:
"They have crippled departments, laid-off people and denied just compensations to employees while fattening their own pockets which is socially and morally wrong."
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On JPMorgan Chase (JPM) refusing to process payments for a condom company due to reputational risk:
"As if JPMorgan Chase
has such a sterling reputation, that it would be besmirched by processing payments for a distributor of female condoms."
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Image: Bloomberg News
On the government using the banking system to discourage certain activities:
"Operation Choke Point and comparable regulatory efforts are driving us toward politically correct banking
Rule of Law rather than Rule of Gossip should be our standard."
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On the Consumer Financial Protection Bureau taking aim at 'zombie' foreclosures at a time when it faces concerns about discrimination within its ranks:
"Lots of irony here: The CFPB is attacking foreclosure 'zombies,' while at the same, it appears to be resurrecting Jim Crow."
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Image: Bloomberg News
On the CFPB nearing completion of payday lending rules:
"Surely [the CFPB] understands consumers seek out these loans because they need them and many remain in a continuous state of borrowing out of need and by choice."
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On the CFPB nearing completion of payday lending rules:
"The FDIC/OCC guidance caused all five banks that make deposit advances to immediately announce their intention to cease offering the product. 'Guidance' or prohibition? Are the regulators making rules or writing laws?"
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On banks featuring mobile devices in branches:
"When will we shed this obsession with designing every experience in the context of the physical location, and recognize the superior time and place utility of digital channels and media?"
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On what's holding back mobile payments:
"Innovators and early adopters may be satisfied with the 'cool' factor of mobile and alternative payments, but the majority will require much more. Marketers have their work cut out for them not only with consumers, but retailers and payment providers as well."
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On how data-sharing can help prevent fraud:
"For this to work, there must be industry incentives to collaborate."
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On student loan debt stifling the housing market:
"Often overlooked in the student loan crisis articles is data around Parent loans
Junior only got saddled with $29,000 but mom and dad are on the hook for far, far more."
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