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American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and from our social media platforms.

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On tech startups like Uber and AirBnB portending a shakeup in financial services:

"Took my first Uber ride this week. I am hooked. Convenience is everything."

Related Article: The Next Big Thing in Banking Will Be a Firm We've Never Heard Of

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On a prediction that startups specializing in person-to-person payments or peer-to-peer lending could soon dethrone banks:

"I believe this article is a look into the not-so-distant future. The way we do business in the banking and mortgage finance world, and all other [industries], will look totally unfamiliar to us in 5 years."

Related Article: The Next Big Thing in Banking Will Be a Firm We've Never Heard Of

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On the Consumer Financial Protection Bureau's proposal to make public detailed accounts of consumer complaints:

"Now [the] CFPB wants to operate a consumer review site — one that is limited exclusively to negative reviews. Publishing narratives will invite and give implied legitimacy to every gadfly who has an axe to grind, with no substantiation of claims. I get involved in a lot [of] customer complaints, some justified, many where there is another side to the story, and some that are completely irrational. Publishing narratives will not lead to a more informed public. It will lead to misinformation, intimidation and officially endorsed slander."

Related Article: CFPB Seeks to Publish More Details on Consumer Complaints

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On JPMorgan Chase's decision to cut back on originations of mortgages guaranteed by the Federal Housing Administration to avoid potentially costly government litigation:

"These new 'consumer protection' laws and regulations will prevent/delay those at the margin from buying a home. Instead, those people will just pay the landlord. Is that the new American Dream?"

Related Article: Jamie Dimon Really Doesn't Like FHA Lending

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On reports banks are worried about losing the few employees familiar with core legacy systems:

"Decades-old legacy applications run the core business and would be prohibitively expensive to replace, so they remain and need the people to run them. But then where are the job openings and help-wanted ads for computer professionals with those skills?"

Related Article: Wanted at Banks: Young Tech Pros with Old-Tech Smarts

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On the difficulties replacing employees with knowledge of mainframe and COBOL programming:

"Teaching a person to program on the mainframe can be solved in months, and is an important first step. Taking that programmer to a point that they can independently support a core banking application is the real problem to be solved."

Related Article: Wanted at Banks: Young Tech Pros with Old-Tech Smarts

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On banks, but not media companies, being required to have thorough customer identification programs to root out consumer fraud:

"Most of these scam outfits advertise on [the] radio, late night TV/cable, internet and print media. Why aren't those companies held to the same standard to verify the nature of their customer as banks are?"

Related Article: Dems, GOP Spin Competing Narratives About Operation Choke Point

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On a credit union offering short-term, small-dollar loans via a mobile app:

"The product sounds like a great alternative to payday loans and perhaps can be a way for some consumers to get out of the payday loan cycle if they've gotten caught up in one. The fees are a lot more reasonable than the typical payday or title loan scenario."

Related Article: Credit Union's Mobile App Approves Loans Within Six Taps

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On why traditional financial institutions avoid offering short-term loans:

"The constraints on short-term, small dollar loans are not regulatory, they are financial. It is not possible to make money on small dollar loans without charging high interest rates and rolling over the loans."

Related Article: B of A and Other Banks Back Credit Union to Solve Payday Problem

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