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'He should never have joined': Comments of the week

Readers weigh in on the end of President Trump's business councils, what the Charlottesville, Va., clashes mean for banks, OSHA's mishandling of Wells Fargo whistleblower claims, community banks' embrace of blockchain, and more.
Jamie Dimon, chief executive officer of JPMorgan Chase.
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., speaks during a Bloomberg Television interview on the sidelines of the JP Morgan Global China Summit in Beijing, China, on Monday, June 5, 2017. Dimon, who recently decided to exit a minority-owned Chinese investment-banking joint venture, said the U.S. bank is seeking to find a new structure that would eventually give it full control. Photographer: Giulia Marchi/Bloomberg

On how the dissolution of President Trump's business councils takes the heat off of Jamie Dimon, who had faced criticism for participating:

"He should have never joined it…" (via Twitter)

Pressure's off Dimon as Trump business councils disband
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Silver vintage microphone in the studio on blured background

On the increasing necessity for banks to speak up about hot-button political issues:

"Banks (and FIs in general) would be well served — both morally (because it's the right thing to do) and in terms of public perception — by emphasizing their commitment to diversity and inclusion and their opposition to racism and hate."

Can banks afford to remain on the political sidelines?
Chalk drawing of an angelic businessman.
Hand draw with chalk caricature of funny businessman

On why it's less appealing for banks to be politically neutral following events like the violent clashes in Charlottesville, Va.:

"While I generally agree with this article, I think it is stupid that people in general have to state publicly that they are good and honorable people, that should be assumed until they do something that shows otherwise."

Can banks afford to remain on the political sidelines?
Stacks of silver and gold ingots.
Silver ingot and gold bullion. Finance illustration

Criticizing an op-ed that touts alternatives to the Federal Reserve's issuance and control of real currency:

"This guy forgets or neglects to mention that the days he is hoping for the return of were when currency was backed by gold and silver."

Banks can succeed without the Fed
A spiral staircase, as viewed from above.

On the Occupational Safety and Health Administration's mishandling warnings about Wells Fargo's branch sales practices:

"OSHA let down the public, these Wells Fargo employees and, honestly, the bank itself." (via Twitter)

Unprotected: How the feds failed two Wells Fargo whistleblowers
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Tin can phone with broken string - communication issue concept

On how the Dodd-Frank Act's Volcker Rule might be interfering with community banks' ability to reap benefits from fintech:

"And yet I still hear some policymakers assert that community banks are not affected by the Volcker Rule — which, I will add, is contrary to what I hear from community bankers."

Small banks' fintech efforts held back by Volcker Rule
The words "Freedom of speech" as a key on a computer keyboard.
Politics concept: computer keyboard with word Freedom Of Speech, selected focus on enter button background, 3d render

On Sen. Elizabeth Warren urging banks to air their positions on the Consumer Financial Protection Bureau's arbitration rule:

"'Freedom of speech includes the freedom not to speak.' Absolutely. It also includes the freedom of Sen. Warren to publicly tell bank customers, like me, which banks accepted or declined her invitation to speak."

Warren asks banks to take public position on CFPB arbitration rule
Concept depicting blockchain.
Block chain network and programming concept on technology background

On community banks collaborating to find ways to benefit from blockchain:

"@AmerBanker op-ed makes the case that should be clear as rain: #communitybanks stand to gain from blockchain." (via Twitter)

Community banks stand to gain from blockchain — if they work together
Folded paper boats.
Two paper boats competing with each other. Red and white ships sailing on gray background. Rivalry, business, success and efficiency concept

On states seeking to harmonize regulatory regimes as a way to compete with the Office of the Comptroller of the Currency's fintech charter:

"The beauty of the federal system: competition among governments to find the regulatory program that most fits consumer interests and needs."

States developing single regulatory structure for fintech firms
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