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Comments of the Week: Dec. 10 - 14

On an Ohio bank's refusal to pay a New York firm Tarp share dividends: On an Ohio bank's refusal to pay a New York firm Tarp share dividends: "People need to pay their obligations. Good luck ever trying to raise any sort of capital ever again."

Related Article: Small Bank's Surprise Decision May Threaten Treasury's Tarp Return

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On all 19 megabanks failing new OCC risk tests: On all 19 megabanks failing new OCC risk tests: "Another cogent argument for breaking up the 19 largest [Too Big to Fail] banks."

Related Article: Big Banks Flunk OCC Risk Tests

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On all 19 megabanks failing new OCC risk tests: On all 19 megabanks failing new OCC risk tests: "The OCC has been known to be the lightweight regulator for years … Now, they are trying to live up to a tough guy image or become obsolete, so, of course, they are going to come in and stick it to banks."

Related Article: Big Banks Flunk OCC Risk Tests

(Image: Bloomberg News)
On whether to include enforcement lawyers in Consumer Financial Protection Bureau bank exams: On whether to include enforcement lawyers in Consumer Financial Protection Bureau bank exams: "[Taking the attorney out] will emphasize the importance and value of exams, which are to identify and address problems before they become enforcement issues."

Related Article: CFPB Should Leave Enforcement Lawyers Out of Bank Exams

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On whether to include enforcement lawyers in Consumer Financial Protection Bureau bank exams: On whether to include enforcement lawyers in Consumer Financial Protection Bureau bank exams: "Who better to get advice from to prevent enforcement actions than enforcement attorneys? If banks get good advice before implementing questionable practices, then both the banks and consumers should benefit."

Related Article: CFPB Should Leave Enforcement Lawyers Out of Bank Exams

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On how the Consumer Financial Protection Bureau can ensure the free flow of exam information: On how the Consumer Financial Protection Bureau can ensure the free flow of exam information: "If [CFPB officials] really care about community banks and a true free market, they would disband. Our politicians - on both sides of the aisle - sold us down the river on this one."

Related Article: CFPB Should Leave Enforcement Lawyers Out of Bank Exams

(Image: Bloomberg News)
On the Senate passing the ATM disclosure and privilege bills: On the Senate passing the ATM disclosure and privilege bills: "Once again, the Senate acts to advantage banks over consumers … Senators are supposed to act on behalf of constituents not contributors."

Related Article: Senate Passes ATM Fee Disclosure, CFPB Privilege Bills

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On Senators blocking a vote on a two-year Transaction Account Guarantee extension: On Senators blocking a vote on a two-year Transaction Account Guarantee extension: "Increased abuse and prevalence of filibusters are destroying our ability to govern. What is wrong with voting and letting the chips fall where they may?"

Related Article: Senators Deal Huge Setback to TAG Extension

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On whether Transaction Account Guarantee should be extended: On whether Transaction Account Guarantee should be extended: "The extension of TAG is an admission of Dodd-Frank's failure to address the Too-Big-to-Fail problem … One massive government subsidy should not be used as justification for extending another."

Related Article: TAG Bill Clears Key Senate Hurdle as White House Voices Support

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On whether the Transaction Account Guarantee program should be extended: On whether the Transaction Account Guarantee program should be extended: "Not a single taxpayer dollar has been used to support this program. The FDIC is industry-funded. While they do have a government backstop, it has never been used. All banks pay premiums into the fund, which is then used to pay off certain deposits in the event of failure."

Related Article: TAG Bill Clears Key Senate Hurdle as White House Voices Support

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On columnist Andrew Kahr's assertion that innovation can be hazardous to a bank's health: On columnist Andrew Kahr's assertion that innovation can be hazardous to a bank's health: "Mr. Kahr confuses innovation based upon market research, economics, financial analysis, longitudinal testing, stress testing and prudence with guessing."

Related Article: The Cult of 'Innovation' Can Be Hazardous to Your Bank

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On columnist Andrew Kahr's assertion that innovation can be hazardous to a bank's health: On columnist Andrew Kahr's assertion that innovation can be hazardous to a bank's health: "Innovation itself is never a bad thing, but if innovation obscures information, like it did … when the banking sector got so excited about mortgage-backed securities that they forgot to do their homework, then it can be dangerous."

Related Article: The Cult of 'Innovation' Can Be Hazardous to Your Bank

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On a call for Congress to stop using Fannie Mae and Freddie Mac to subsidize other programs: On a call for Congress to stop using Fannie Mae and Freddie Mac to subsidize other programs: "I suspect that … means that taxpayers should also stop being called upon to subsidize Fannie and Freddie."

Related Article: Congress Must Stop Using Fannie and Freddie as Piggy Banks

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On Chris Larsen's plan to launch a Bitcoin-like payment system: On Chris Larsen's plan to launch a Bitcoin-like payment system: "Is it just me, or does this sound a lot more complicated than existing payment systems?"

Related Article: Disruptor Chris Larsen Returns with a Bitcoin-Like Payment System

(Image: Michael Chu)
On Chris Larsen's plan to launch a Bitcoin-like payment system: On Chris Larsen's plan to launch a Bitcoin-like payment system: "The whole concept is a bad joke played on unsuspecting people. Until you can use the 'currency' to buy basic commodities (food, gas, pay rent) at more than two locations within a 10-mile radius its value is exactly $0.00."

Related Article: Disruptor Chris Larsen Returns with a Bitcoin-Like Payment System

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On the Federal Reserve competing with bank in the mortgage-backed securities market: On the Federal Reserve competing with bank in the mortgage-backed securities market: "The worries build up about how they [Fed officials] exit from the policies, but increasingly the problems are forcing their way into the present."

Related Article: Fed Competing Against Banks for Mortgage-Backed Securities

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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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