“'This time it’s different.'”
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"Funny how a Needs to Improve CRA rating can help a bank place a '...greater focus on affordable rental housing and combating homelessness.'"
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"I wonder how the Center for Responsible Lending would've viewed Sandler's pick-a-pay option mortgage product? Likely not good. Perhaps funding the Center is the Sandler's penance for their awful product and its contribution to the mortgage meltdown."
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"Whenever I see these reports with positive earnings results for banks, I shudder, because Congress sees these reports and thinks they've taken banks to the woodshed with more and more regulation and they are STILL profitable. So then Congress thinks they can do even MORE to the banking industry. Just wait."
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"What we clearly do not need is another broken payment system run by big banks holding hands, setting default prices, creating one-sided rules, disadvantaging small banks and denying merchants and consumers the benefits that come from a competitive market. The Fed is likely our only salvation!"
Related: Fed official hits back at criticism of central bank’s payments role