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Comments of the Week: Feb. 4 - 8

On the Consumer Financial Protection Bureau On the Consumer Financial Protection Bureau "The CFPB is a frontal assault on constitutional government and free enterprise."

Related Article: Who Should Run the CFPB if Cordray Leaves?

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On who should run the CFPB if Richard Cordray has to step down: On who should run the CFPB if Richard Cordray has to step down: "My novel idea would be the selection of a community banker. The novelty would be that common sense could actually emanate out of a Washington bureaucracy."

Related Article: Who Should Run the CFPB if Cordray Leaves?

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On whether Richard Cordray should remain as CFPB director: On whether Richard Cordray should remain as CFPB director: "Cordray's even-handed performance justifies automatic confirmation … [the] CFPB is currently one of the few effective agencies in government, mainly because of its independence from those it regulates and the compromised Congress."

Related Article: How Elizabeth Warren Can Save the CFPB

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On the assertion that Elizabeth Warren can save the CFPB: On the assertion that Elizabeth Warren can save the CFPB: "Saying Elizabeth Warren can save the CFPB is like saying smoking can save a crack addict."

Related Article: How Elizabeth Warren Can Save the CFPB

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On whether certain depositors of failed banks should be 'bailed in': On whether certain depositors of failed banks should be 'bailed in': "Reduce the moral hazard (FDIC protection - taxpayer protection) and you would have reduced the cost of the banking crisis. It's always easier to play with (ahem - risk) other people's money."

Related Article: Which Depositors Should Suffer Losses When a Bank Fails?

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On the Federal Reserve's Jeff Lacker opposing future bailouts: On the Federal Reserve's Jeff Lacker opposing future bailouts: "Lacker understands the bailout impulse of his colleagues: now the issue is how to stop them!"

Related Article: Fed's Lacker: How to Stop Bailouts for Good

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On Lacker saying government support is not the answer to financial problems: On Lacker saying government support is not the answer to financial problems: "This stated while the Fed continues to print money at the rate of $85 billion a month with no end in sight."

Related Article: Fed's Lacker: How to Stop Bailouts for Good

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On whether the FSOC should be completely separated from the Treasury: On whether the FSOC should be completely separated from the Treasury: "By having the Treasury Secretary as permanent chairman, the FSOC will forever be a political tool of whichever administration is in power. A body made up of regulatory agencies should be apolitical."

Related Article: Will FSOC Be a Priority for Treasury Pick Jack Lew?

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On RBS' recent Libor settlement: On RBS' recent Libor settlement: "Fascinating how efficient U.S. authorities appear to be in pursuing legal actions against Barclays, UBS and RBS, yet so much less efficient with any of the U.S.-headquartered banks that have also had their Libor records subpoenaed, including JPM Chase, Citigroup and B of A."

Related Article: RBS to Pay $790 Million to Settle Libor Probe: Report

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On Federal Reserve Gov. Elizabeth Duke pushing community banks to lend: On Federal Reserve Gov. Elizabeth Duke pushing community banks to lend: "The risk of assessment of penalties for non-compliance at the community banks [is] more likely to be against the individual loan officers and directors … unlike the megabanks where the only penalties are against the shareholders."

Related Article: Fed's Duke Pushes Community Bankers on Lending Practices

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On Federal Reserve Gov. Elizabeth Duke pushing community banks to lend: On Federal Reserve Gov. Elizabeth Duke pushing community banks to lend: "Community banks … are carrying an inordinate amount of the cost to comply … Dodd- Frank has spanked the wrong baby."

Related Article: Fed's Duke Pushes Community Bankers on Lending Practices

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On credit, capacity and collateral, or the three 'Cs' of underwriting: On credit, capacity and collateral, or the three 'Cs' of underwriting: "What we are missing is the 4th 'C', common sense, which doesn't seem to exist anymore."

Related Article: Regulators Choke Off Good Loans in Zeal to Prevent Bad Ones

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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.

Comments (2)
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