Comments of the Week: Oct. 8 - 12

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On Federal Reserve Board Gov. Daniel Tarullo's call for a size cap on big banks: On Federal Reserve Board Gov. Daniel Tarullo's call for a size cap on big banks: "The government should never be involved in telling a company how large they can become. That's not their place … Let the marketplace decide."

Related Article: Fed's Tarullo Calls for Size Cap on Large Banks

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On Tarullo's call for a size cap on big banks: On Tarullo's call for a size cap on big banks: "It would have been far better had his 'Eureka moment' occurred prior to his drafting thousands of pages of undecipherable rules for the banks."

Related Article: Fed's Tarullo Calls for Size Cap on Large Banks

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On the case for reinstating Glass-Steagall: On the case for reinstating Glass-Steagall: "Anyone want to insure my trip to Vegas? I think not."

Related Article: Former Wamu Execs Eye Return to Mortgage Lending

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On FDIC board member Thomas Hoenig's plan to break up big banks:  On FDIC board member Thomas Hoenig's plan to break up big banks: "There is simply no other way to effectively deal with TBTF, assuming we truly want to end it."

Related Article: Fed's Tarullo Calls for Size Cap on Large Banks

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On whether 'Back to Basics' is the right answer to Basel III: On whether 'Back to Basics' is the right answer to Basel III: "Any measure used for control purposes loses its effectiveness over time. Essentially the regulated learn how to game the system."

Related Article: Why 'Back to Basics' Is the Right Answer to Basel

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On Tarp banks being at risk under Basel III: On Tarp banks being at risk under Basel III: "We are all at risk under Basel III."

Related Article: Tarp Banks at Risk Under Basel III, Panelists Warn

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On Sen. Mike Crapo becoming banking panel's top Republican: On Sen. Mike Crapo becoming banking panel's top Republican: "Crapo is an avatar for the so-called community banks, which have serious challenges of their own under new capital rules."

Related Article: Will Crapo Take Over as Banking Panel's Top Republican?

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On the need for professional standards for bankers: On the need for professional standards for bankers: "Can you name a 'duty of care' required by a bank person in a branch? Answer is 'Caveat Emptor.'"

Related Article: Let's Establish Professional Standards for Bankers

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On the need for professional standards for bankers: On the need for professional standards for bankers: "Most of the banks failed not because of professional incompetence, but because of non-adherence to established ethical standards that should govern the conduct of business transactions."

Related Article: Let's Establish Professional Standards for Bankers

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On giving customers what they want: On giving customers what they want: "I salute the bank loan officers with the ability to say 'no' when it is needed … It is no different than a doctor reminding us to stop obesity or smoking."

Related Article: Deliver What Customers Want, Not What You Think They Need

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On giving customers what they want: On giving customers what they want: "Wal-Mart and other non-banks listen and consumers are looking outside the traditional bank for that reason."

Related Article: Deliver What Customers Want, Not What You Think They Need

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On Walmart and Amex's Bluebird card: On Walmart and Amex's Bluebird card: "By any other name, this functionally is a checking account, and should be regulated as such."

Related Article: Walmart's Bluebird Card Makes It a Tougher Competitor to Banks

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On the FHFA's vision for a new mortgage securitization platform: On the FHFA's vision for a new mortgage securitization platform: "We all will need to get real about the price of mortgage capital."

Related Article: FHFA's Vision for MBS Platform: Ambitious, Laudable, Dicey

Pictured: FHFA Acting Director Edward J. DeMarco

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On qualified mortgages coming up during the first presidential debate: On qualified mortgages coming up during the first presidential debate: "When mortgage underwriting requirements become a topic in presidential debates, that's strong evidence that the market is highly politicized. This isn't progress!"

Related Article: Mortgage Lenders Tighten Requirements Ahead of QM Rule

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On the CFPB's enforcement actions: On the CFPB's enforcement actions: "If you want to play banker, you have to play by the rules."

Related Article: Why the CFPB's AmEx Fine Should Scare Bankers

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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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