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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 social media platforms and the blogosphere.
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On the revelation that the Federal Reserve apparently considered cryptocurrencies as a potential means of revamping the U.S. payments system before putting the option on hold:

"'First they ignore you, then they laugh at you, then they fight you, then you win.' — Mahatma Gandhi. Guess we are close to the final step!" (via Reddit)

Related: The Cryptocurrency that Dare Not Speak Its Name

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On the Fed's approach to exploring the potential of Bitcoin's blockchain technology:

"Conway's law. The regulators on both sides of the Atlantic will continue to 'wait and see,' or at best try to force blockchain in to a centralized management framework. Potentially [the Internet of Things] will provide the catalyst for blockchain before [financial services] does." (via LinkedIn)

Related: The Cryptocurrency that Dare Not Speak Its Name

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On the timeline for implementing broad-scale changes to the payment system, as outlined in the Fed's road map:

"Looks like faster payments are a long way off, based on the options floated." (via Twitter)

Related: The Fed Has a Vision for Faster Payments; Does It Have the Will?

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On the urgent need for an overhaul of the payments system:

"We need better, faster, sooner!" (via Twitter)

Related: The Fed Has a Vision for Faster Payments; Does It Have the Will?

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On the FDIC's attempt to dissuade banks from cutting ties with entire lines of business to avoid regulatory scrutiny:

"The FDIC's letter does little to reduce the exposure associated with serving 'high risk' businesses. As long as the Justice Department persists in its strategy of pressuring banks to discourage what it believes to be undesirable (but legal) practices, banks will be inclined to avoid such businesses. The FDIC may have called off its dogs, but banks still risk attack by Justice."

Related: FDIC Move Hailed as Beginning of End for Operation Choke Point

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On the FDIC's attempt to dissuade banks from cutting ties with entire lines of business to avoid regulatory scrutiny:

"It hardly seems revolutionary for the FDIC to say that banks should determine whether to provide services based on the risk profile of each customer, not the 'reputation risk' of entire industries. In that sense, it is just stating the obvious." (via the Washington Post's Volokh Conspiracy blog).

Related: FDIC Move Hailed as Beginning of End for Operation Choke Point, De-Risking Threatens Religious Access to Banking Services

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On reports that banks are closing the accounts of churches and other cash-intensive religious organizations in order to de-risk:

"While religious discrimination, intentional or otherwise, is untenable, where do these 'high risk' businesses and organizations go for banking services in the meantime? Do they hide millions of dollars under the mattress? This presents all kinds of new risks for these high-risk businesses."

Related: De-Risking Threatens Religious Access to Banking Services

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On a push to increase the asset threshold that exempts community banks under $10 billion from certain Dodd-Frank requirements:

"It is certainly time to consider that the so-called 'bright lines' created by the agencies in an attempt to avoid 'one size fits all' regulation have created some unintended consequences. Why should a locally focused and managed $12B asset community banks have to perform complex macroeconomic stress testing exercises that create virtually no additional risk management value for them or their shareholders? This is one example of how creating arbitrary asset thresholds impact smaller banks."

Related: How Fight Over Dodd-Frank Size Cutoffs Could Help Small Banks

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On ATM manufacturer Diebold's attempt to rebrand itself by highlighting its software and security services:

"Sad, the reality is that [Diebold] was actually a security company which (unfortunately) diversified into ATMs. Wrong move-DBD could have been bigger than ADT and could have dominated the U.S. physical security market had it not been sidetracked by the disastrous decision to pursue commodity box (ATM) manufacturing."

Related: Diebold Adapts Its Reinvention Story for the Silver Screen

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On criticisms of the Financial Stability Oversight Council's macroprudential approach to addressing systemic risks:

"One red herring that keeps confusing the discussion is the belief that 'macroprudential' or any other regulation will eliminate failures or another systemic meltdown. Complex systems always walk the 'edges of chaos' and disaster can strike entirely unexpectedly …. In my view the best that any type of regulation can hope to achieve is lowering the odds of disaster and minimizing the pain when it happens. So it is unfair at this stage to judge the FSOC and other regulators as having failed: we won't know how successful they have been until we experience the next disaster."

Related: 'Macroprudential': A Real Cure or Just a Buzzword?

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On the suggestion that cloud providers may be more secure than banks:

"Makes sense. … Cloud providers [that are] not secure are out of business. Banks not secure have to send a letter." (Via Twitter)

Related: What If Cloud Providers Are More Secure than Banks?

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On alternatives to payday loans offered through employers:

"The low default rate achieved within an employer-sponsored borrowing scenario is encouraging. Whether employers will come on board may have much to do with the hurdles of installing such a program, it may deliver unseen dividends such as increased employee loyalty. Might an employee be less attracted to a job offer from an outside company, if their current employer provided credit at good rates? What if they carried the note for their home or auto?"

Related: New Challenger to Payday Loan Market Targets Employers

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On an argument to continue using Fannie Mae and Freddie Mac to fund affordable housing:

"The three markets where the federal government has massively intervened are: housing, health and education. The three markets where affordability is considered a serious policy issue are: housing, health and education. See any connection?"

Related: Affordable Housing Can't Be Held Hostage to GSE Stalemate

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