Comments of the Week: Sept. 24 - 28

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On Comptroller of the Currency Tom Curry's defense of using on-site examiners: On Comptroller of the Currency Tom Curry's defense of using on-site examiners: "OCC executives and examiners have been in bed with the banks for way too long. They need a divorce!"

Related Article: OCC's Curry Defends On-Site Examination of Large Banks

(Image: Bloomberg News)
On the ideas in Sheila Bair's forthcoming memoir: On the ideas in Sheila Bair's forthcoming memoir: "Bair's policy proposals make a great deal of sense. The FDIC as insurer should have sole responsibility for regulating and closing banks. There should be one regulator for everything else, not housed in the Treasury or Fed where access to bailout funds is too easy."

Related Article: Seven Explosive Details from Bair's New Book

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On the CFPB pursuing higher fines in enforcement actions: On the CFPB pursuing higher fines in enforcement actions: "Please! Please don't help us so much. Every time they impose a fine on these financial institutions, we, the customers, end up picking up the tab."

Related Article: CFPB Pursuing Higher Fines as Part of Enforcement Actions

Pictured: CFPB Director Richard Cordray

(Image: Bloomberg News)
On the FHFA's proposal to charge five states higher guarantee fees to cover foreclosure costs: On the FHFA's proposal to charge five states higher guarantee fees to cover foreclosure costs: "Borrowers should pay more for the protections given them by their local officials. It isn't fair that people in Texas pay for bad borrowers in New York."

Related Article: FHFA's State-Level Guarantee Fee Plan Sets a Bad Precedent

Pictured: FHFA acting director Edward DeMarco

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On claims that banking regulations are too complex: On claims that banking regulations are too complex: "If you want simpler regulation, then prescribe the business model and its role in the economy first."

Related Article: Let's Use 'The Dog and the Frisbee' as Catalyst for Regulatory Debate

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On John Allison's assertion that government intervention in housing made banks less willing to reduce risk: On John Allison's assertion that government intervention in housing made banks less willing to reduce risk: "This is like saying, 'if there is no sign that this street is a one way than I am in my right to turn into oncoming one way traffic.'"

Related Article: Allison Takes Washington to Task in New Book

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On the House Ethics Committee's decision not to pursue charges against Maxine Waters: On the House Ethics Committee's decision not to pursue charges against Maxine Waters: "Another mark against Congress when even its Ethics Committee can't tell the difference between right and wrong."

Related Article: Ethics Committee Announces Waters Hearing

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On the absurdity of Too Big to Fail banking: On the absurdity of Too Big to Fail banking: "Hopefully after the elections we can get down to actually doing something about how the TBTF algae needs to be cleared out of the financial services pond before it takes it completely over and destroys all other ecosystems."

Related Article: The Absurdity of Too Big to Fail Banking

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On Regions Financial's payday loan product: On Regions Financial's payday loan product: "Better to do business with your lender down the street, paying taxes, employing your friends and family and protecting your financial data than with a payday loan lender based in Panama or wherever!"

Related Article: Regions to Lower Cost of Payday Loans

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On why bank regulators' extending the deadline for foreclosure reviews is not a win for consumers: On why bank regulators' extending the deadline for foreclosure reviews is not a win for consumers: "There are those of us who submitted our claims very early in the process. We have heard nothing and believe when we finally do, it will be a finding of no wrongdoing by our servicers … Nobody protects the powerless."

Related Article: Megabanks Extend and Pretend They Won't Pay for Foreclosure Fouls

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On the claim that banks and consultants are the true beneficiaries of the foreclosure review extension: On the claim that banks and consultants are the true beneficiaries of the foreclosure review extension: "Wasn't it consumer groups and members of Congress that asked for the deadline extension?"

Related Article: Megabanks Extend and Pretend They Won't Pay for Foreclosure Fouls

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On a pivotal fair lending case getting quashed by a Department of Justice quid pro quo: On a pivotal fair lending case getting quashed by a Department of Justice quid pro quo: "Another example of our outstanding Justice Department at work for the U. S. Taxpayers! Sad."

Related Article: Pivotal Fair Lending Case Squashed by DOJ Quid Pro Quo

Pictured: Assistant Attorney General Thomas Perez
On Basel III: On Basel III: "It not only hurts community banks. It hurts all banks."

Related Article: How Basel III Capital Requirements Hurt Community Banks

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On how Basel III capital requirements hurt community banks: On how Basel III capital requirements hurt community banks: "The quickest way to be sure that banking can't lend to help the economy recover is to implement Basel III."

Related Article: How Basel III Capital Requirements Hurt Community Banks

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On Tim Pawlenty taking over as head of the Financial Services Roundtable: On Tim Pawlenty taking over as head of the Financial Services Roundtable: "Let's hope Pawlenty can effectively work with both parties, something that is sorely needed in Washington, D.C."

Related Article: FAQ: What's Behind Roundtable's Surprising CEO Pick

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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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