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On big tech firms like Google and Paypal once flirting with the OCC's new fintech charter but then walking away:

"When the OCC doesn't give out any charters, it is not the fault of all the applicants. The OCC needs to get its house in order."

Related: Google and PayPal explored OCC’s fintech charter, then walked away
House Financial Services Committee Chairwoman Maxine Waters
On top Democrat Rep. Maxine Waters of California demanding that Facebook halt its plans to launch a cryptocurrency called Libra:

"'I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress...' Thanks but no thanks, request denied. That said, I'm not a fan of Facebook and its track record isn't one that folks should trust for something like this."

Related: Waters calls for halt to Facebook's crypto plans
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Another reader responds to members of the House Financial Services calling on Facebook to halt its new cryptocurrency pilot:

"Using the threat of a congressional inquiry to halt innovation and entice a campaign contribution is a new low. It's like high camp Norma Desmond searching for the right vehicle to put her back on top."

Related: Waters calls for halt to Facebook's crypto plans
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On a plea from J.W. Verret at George Mason University's law school telling Congress not to enact legislation that would delay the controversial new FASB accounting standard for current expected loan losses, or CECL:

"Professor Verret couldn't be more wrong. Left to its own devices, FASB can cause massive economic distortions and losses with its ill-conceived accounting proclamations. The Great Recession was largely due to FASB's mark-to-market accounting rules, which FASB put in place over strenuous objections from the Secretary of the Treasury, Chairman of the FDIC, and Chairman of the Federal Reserve. FASB must have proper oversight. Bill Isaac, former Chairman, FDIC."

Related: Dear Congress: Leave accounting standards to FASB
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Another reader sides with former FDIC Chairman Bill Isaac against an op-ed calling for Congress to delay FASB's new CECL accounting standards.

"FASB does not identify accounting 'truth.' It manages a model, one that is growing in complexity. As Bill Isaac pointed out, FASB's model became seriously disengaged from reality with its fair value accounting rule, which this 'private' agency that wields government power only changed because of congressional pressure."

Related: Dear Congress: Leave accounting standards to FASB
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On former Comptroller of the Currency Eugene Ludwig calling for "rightsize regulation" that could include a new institute to oversee all the bank laws from multiple agencies:

"'There should be a National Institute of Regulation'. Oh Joy! Another bloated, lawyer filled tax payer supported non-sense entity. The only way you'll get any buy in from the informed is to replace (think gone entirely) at least two existing government entities with this proposed one."

Related: The key to rightsizing regulation
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