Viewpoints: Washington/Regulatory
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2009
Viewpoint: Treasury Resolution Plan Solves Nothing
American Banker | Nov 20 Treasury's proposal games resolution procedure and increases systemic risk and other "serious financial effects," thereby inviting the problem it purports to control.
Viewpoint: FDIC Prepayment Plan Is an Economic Loser
American Banker | Nov 13 Because the FDIC did not build the DIF during good economic times, it now proposes to harm banks economically just as the country is trying to recover. This is poor policy.
Viewpoint: Special Cases: Parent Fails, Bank Lives
American Banker | Nov 11 Since CIT and Capmark are new bank holding companies, they were not inextricably intertwined with their subsidiaries. Further, the banks themselves are involved in straightforward lending activity.
Viewpoint: Recapitalizing the GSEs to Shield Taxpayers
American Banker | Nov 6 The only viable option for limiting taxpayer expense is to set up a "Bad Fannie" and "Bad Freddie" holding the existing portfolios and a "Good Fannie" and "Good Freddie" as cooperatives.
Viewpoint: Third Time's the Charm for Toxic Asset Solution
American Banker | Nov 6 Only by adopting an approach that does not fatally impair capital, provide a taxpayer-supported windfall or burden the already strained federal budget can we prevent another false start.
Viewpoint: Treasury Bill Gets It Wrong on 'Too Big'
American Banker | Nov 4 Do we really want to give unelected officials a blank check to do more GMAC-type bailouts? Would it be too much to ask Congress to vote on any further bailouts rather than delegating the authority?
Viewpoint: Failure Resolution Plans Go Too Easy on Creditors
American Banker | Oct 30 Congress should require that all the secured creditor claims against a complex financial firm be convertible into equity to provide the funding to help support or save the firm from liquidation.
Viewpoint: Too Big to Fail, Too Big to Run
American Banker | Oct 28 I support the Treasury Department's announcement of core principles for regulatory capital standards. Higher capital standards will enhance the stability of the financial system.
Viewpoint: Revitalize Muni Bond Insurance Market
American Banker | Oct 28 The forgotten stepchild of the crisis, revitalizing the industry would let the municipal credit market serve the pent-up demand for credit products that can help local governments fund projects.
Viewpoint: Put Tarp Money to Work for Small Businesses
American Banker | Oct 23 Financial institutions would be pleased to be part of an effort that tapped unused or about to be repaid Tarp money. It could be a boost to new entrepreneurs along with indirect benefits to the banks.
Letter to the Editor: CFPA's 'Zombie' Effect
American Banker | Oct 21
To the Editor:
The analogy between Gramm-Leach-Bliley Act state regulatory authority and the effect of disparate state consumer protection laws under a Consumer Financial Protection Agency is specious, one might even say unfair and deceptive ['Preemption Fight Suffers From History,' Oct. 19].
Viewpoint: New York Fed Board Move Tone-Deaf on Public Service
American Banker | Oct 16 After the New York Fed's recent naming of two CEOs, one must wonder why it could not find qualified directors, with proven track records of public advocacy, to serve the public good.
Viewpoint: Risk Management Overhaul Do's, Don'ts
American Banker | Oct 16 Effective risk management involves the board and senior management ensuring that a process is in place to assess, weigh and mitigate (or accept) known risks.
Viewpoint: Obstacles and Opportunities for Reform
American Banker | Oct 14 The 9/11 Commission reached broad bipartisan consensus on reforms, many of which have already been enacted into law. Maybe the Financial Crisis Inquiry Commission can go a similar route.
Viewpoint: Dugan Is Wrong About Blame for Crisis
American Banker | Oct 9 The Comptroller of the Currency recently repeated three arguments for the crisis that have been advanced by representatives of big financial institutions. Here's why he's wrong.
Viewpoint: Deposit Insurance a Persistent Problem
American Banker | Oct 7 It is undeniable that what actually gives power to deposit insurance and stability to deposits is not the potentially unlimited assessment, but rather the explicit government guarantee.
Viewpoint: Acting Positively on Pay and Risk Management
American Banker | Oct 2 Do not reward employees who have repeated audit issues, exceed trading or credit limits or who fail to meet compliance objectives. Do reward executives who model good risk-management behavior.
Letter to the Editor: Frank: I Misspoke on Preemption
American Banker | Sep 30
To the Editor:
As reported accurately by your publication, I said that the issue of preemption would not be resolved in a collegial manner in the House of Representatives ['Treasury Gives Some Ground on Reg Reform,' Sept. 24].
Viewpoint: Keep Boards in Check With Public Directors
American Banker | Sep 25 When the federal government steps up as the 'investor of last resort' it should demand measures to ensure accountability and transparency, just as any private investor would.
Viewpoint: Consumers, Industry Alike Need a CFPA
American Banker | Sep 25 With a visible, legal, partner watching and approving the banking industry's actions, consumers will feel far more trust in how they are treated.
Viewpoint: Take Fight to Politically Tied Launderers
American Banker | Sep 23 In consultation with the industry, and taking into account relevant privacy concerns, the Treasury should explore the viability of an automatic, short-term freeze of specified PEP accounts.
Letter to the Editor: Fair Value, Risk and Growth
American Banker | Sep 18
To the Editor:
In 'Fed Seconds Fair-Value Plan Critique,' [Sept. 15] Fed Gov. Duke's comments strike a chord. An environment in which banks must navigate between external accountants and regulators is a disruptive environment.
Viewpoint: There Are Better Solutions Than a Superregulator
American Banker | Sep 18 We do not need more concentration of regulatory power and more centralized decision-making, we need more checks and balances and stronger watchdogs.
Viewpoint: Big Capital Requirements No Panacea
American Banker | Sep 9 Even appropriate capital regulation alone will not prevent another boom-bust cycle without also implementing sensible, forward-looking provisioning and sound risk measurement.
Viewpoint: Enhance the FFIEC and End the Disharmony
American Banker | Sep 4 Make the council a real force. Give it authority to require some uniformity among the agencies. Consider adding to the membership and including various federal agencies for some purposes.
Letter to the Editor: FDIC's Credibility Crisis
American Banker | Sep 2
To the Editor:
With a long weekend and likely bank closings approaching, the FDIC's $10 billion cushion could be eroded to a level where the threshold of credibility is pierced. The Wall Street Journal editorialized Tuesday morning that an FDIC fix should be made.
Viewpoint: Main Street Turns to Bernanke
American Banker | Sep 2 After a vote of confidence from President Obama, will Chairman Bernanke focus on those who live from paycheck to paycheck and the small businesses that are the key to the economic recovery?
Viewpoint: A Uniform Regulator Fits Small Banks
American Banker | Sep 2 The CFPA will level the playing field for small banks in competing against nonbank lenders, which have been largely unregulated, as well as against large financial conglomerates.
Letter to the Editor: Nonprofit Loan Mod Resource Being Wasted
American Banker | Aug 28
To the Editor:
In the Aug. 10 issue, 'Putting Mods' Glacial Pace in Context' suggests that it is only reasonable that servicers take time to gather all of the relevant information for a mortgage modification before proceeding. We agree. We just wish that they did so on a broader scale.
Viewpoint: Stored-Value Issuers Need to Bone Up on BSA
American Banker | Aug 28 Stored-value industry participants will be required to develop and adopt extensive anti-money-laundering programs that comply with the Bank Secrecy Act and the USA Patriot Act.
Viewpoint: Far From Blame, States Deserve Vital Reg Role
American Banker | Aug 26 Congress should ensure that states continue to play an important role in both protecting their consumers and providing a check against what can be a slow, rigid and insulated federal bureaucracy.
Letter to the Editor: On the Mark on Basel II, GSEs
American Banker | Aug 21
To the Editor:
Reading my old friend Karen Shaw Petrou's Viewpoint piece, 'Don't Blame the Whole Mess on Basel II,' in your Aug. 14 issue in tandem with the same issue's Viewpoint piece, 'Counter Systemic Risk Issues Countercyclically,' by outgoing Federal Housing Finance Agency Director James B. Lockhart is quite instructive.
Viewpoint: Focus Rules on Underregulated Firms
American Banker | Aug 21 It is unfortunate that in the debate over consumer protection there has been too little recognition that, by and large, consumer problems began with un- or underregulated enterprises.
Viewpoint: A Better System for Systemic Risk
American Banker | Aug 14 I believe systemic risk supervision and regulation by the Financial Services Oversight Council or any other committee would defuse the authority and fail to produce the ...
Viewpoint: Counter Systemic Risk Issues Countercyclically
American Banker | Aug 14 Fannie Mae and Freddie Mac did not create the housing price bubble, but their actions were procyclical, further inflating the bubble despite our regulatory efforts to ...
Exam Component of CFPA Ill-Advised
American Banker | Aug 12 The proposed Consumer Financial Protection Agency would add an unneeded, duplicative and costly examination force, charging banks and thrifts for the privilege ...
Out with the Outsourcing of Regulation
American Banker | Aug 12 It's time to empower regulators with the essential tools required to effectively enforce regulation, creating the financial equivalent of the National Institute of Health ...
Letter to the Editor: Nothing to Fear From a CFPA
American Banker | Aug 7
To the Editor:
Your recent article entitled 'Small Banks Find Vanilla a Bitter Flavor' [Aug. 3] neatly summarizes the illogical lengths to which the lending industry will go to try and stop President Obama's proposed Consumer Financial Protection Agency.
Viewpoint: Consumer Agency a Pandora's Box of Ills
American Banker | Aug 7 Rather than creating a costly, new regulatory scheme, Congress should develop ways to improve existing consumer protection laws that address the true problem areas.
Viewpoint: Reform Target: Infrastructure Diversity
American Banker | Aug 5 We need a diverse industry held accountable by able state and federal authorities armed with the legal and statutory tools necessary to provide effective consumer protection.
