American Banker Magazine - September 2021

Balancing Act

Institutional independence is a big part of what makes the Federal Reserve work. But quantitative easing, new forays into climate and digital currency and a blurring of the line between monetary and fiscal policy might make that independence harder to maintain.

The banking industry is now enjoying a "strong" reputation overall, after building on gains made at the height of the pandemic. Here's who stood out and why.

The billionaire entrepreneur, Dallas Mavericks owner and "Shark Tank" co-host has always been outspoken. In a recent interview, he shared his thoughts on the shortcomings of the Paycheck Protection Program, the problem with bank consolidation and the future of cryptocurrency.

If the Justice Department and other agencies are serious about overhauling the bank merger process, they need to start by establishing whether consolidation helps or hurts consumers.

If Biden appointees are going to apply more antitrust scrutiny to bank mergers, they need to factor into their analysis the competitive threat that banks face from fintechs and other less-regulated players.