'Entrapment Is Not a Business Model': Comments of the Week
April 1, 2016 7:30 AM
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 our social media platforms.
On customers sticking with a bank because of the barriers to exit, not because they're satisfied with the bank's service:
"Entrapment is not a successful business model."
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On Barclays viewing banking in the future as an information business (via <a href="https://twitter.com/MandarKagade/status/714610792218255362" target="_blank">Twitter</a>):
"Banking has *always* been an information business."
Related Article:
On whether Donald Trump or Hillary Clinton would be the better choice as president for small banks:
"There is no evidence I have found that suggests Trump supports regulatory reform for community banks. On the other hand, Clinton has specifically said that she will support an effort to provide regulatory relief for traditional community banks. If the Trump candidacy continues to blow up the Republican party, this is the only silver lining I see in the probable result."
Related Article:
Responding to a ruling that threw out FSOC's designation of MetLife as a "systemically important financial institution":
"Let's not get too excited just yet. MetLife won the first battle, but the war isn't over. FSOC will almost certainly appeal."
Related Article:
On the relative speed with which it took a large bank Barclays, in this case to characterize financial data as a strategic asset:
"For those of us familiar with John Reed's observation in the early 1980s that 'money is information in motion,' this revelation by Barclays is a sad commentary on intellectual progress of the banking industry."
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One commenter took issue with the idea that the blockchain could become a standard tool to certify authenticity:
"There is no magic in the blockchain. It simply doesn't do many of the things that people think it does."
Related Article:
In response to the headline, "The Future of Digital Identity Is Up to Banks" (via <a href="https://twitter.com/Beautyon_/status/714374628534255616" target="_blank">Twitter</a>):
"'It's up to banks' like the future of transport was up to horse buggy makers. NO $ALE!"
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