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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 our social media platforms.
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On big banks supporting proposed legislation that would force shell companies to identify their owners in state government filings:

“I support this effort, which would not only aid in the prevention of money laundering, but would also clearly identifying and expose conflicts of interest, now easily hidden in a morass of interlocking shell companies.”

Related article: Why big banks want a ban on anonymous shell companies
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On the Justice Department siding with PHH Corp. in the Consumer Financial Protection Bureau constitutional court case:

“Hopefully this is the first step in dismantling the CFPB. A holy unconstitutional agency run by a dictator who hates Banks. The CFPB should be dissolved and compliance sent back to the agency's as it was.”

Related article: Justice Department turns against CFPB in constitutional court case
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On JPMorgan Chase CEO Jamie Dimon urging regulators to ease the M&A process:

“I have no doubt he thinks there are too many banks. More banks means more competition for him. The mega banks would love to do away with community banking and simply split up the pie 4-5 ways. That would be extremely damaging to consumers.”

Related article: Dimon on M&A: ‘There are still too many banks’
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On the misconceptions of marketing professionals’ responsibilities (via <a href="https://twitter.com/CourtMei/status/838766946439024642" target="_blank">Twitter</a>):

“It's more than just parties + pretty pictures. Next-level marketers need to focus on the bottom-line.”

Related article: Bank marketing is bigger than just advertising
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On payday disruptors using AI to make loans in South Africa and beyond:

“I wonder if South Africa laws and compliance are as complex as in the US? This model would quickly accelerate to higher APR's due to higher operating costs, cost of state licensing and compliance burdens. Very few no file or thin file borrowers would qualify at 40% APR unsecured credit for less than 6 months in US market.”

Related article: How fintechs are using AI to transform payday lending
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A retort to how a weakened CFPB could strengthen the identity protection market:

"Illegal activity is still illegal even if one of the worst government agencies goes away and there are already more than enough bank regulatory agencies more than happy and able to step in. Besides, if the CFPB dies, and I hope it does, when do you think those employees will go? To other government regulatory bodies doing the same job so no overall loss.

Related article: Weakening CFPB will strengthen ID protection providers
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