Comments of the Week: Bitcoin ATM, CFPB's Balloon Loans, Budget Sequester
Published March 1, 2013 8:20 AM
1 Min Read
On whether commissions should run the OCC and FHFA:
"The influence of the industry threatens to overwhelm government … Having pluralistic boards might well be the only protection we can develop for promoting a genuine sense of the public interest."Related Article: Never Mind CFPB - It's OCC and FHFA That Need Commissions (Image: Thinkstock)
On whether commissions should run the OCC and FHFA:
"Commissions, like other forms of government, are subject to regulatory capture."Related Article: Never Mind CFPB - It's OCC and FHFA That Need Commissions (Image: Thinkstock)
On the FHFA's decision to kill Fannie Mae's force-placed insurance plan:
"Another one of those actions by a federal financial regulatory agency that deserves the famous words of John McEnroe, 'you cannot be serious.'"Related Article: Big Banks Win, Taxpayers Lose as Fannie Insurance Overhaul Spiked (Image: Bloomberg News)
On the FHFA's decision to kill Fannie Mae's force-placed insurance plan:
"A more appropriate quote from McEnroe would be a string of his more alliterative expletives."Related Article: Big Banks Win, Taxpayers Lose as Fannie Insurance Overhaul Spiked (Image: Bloomberg News)
On the FHFA's decision to kill Fannie Mae's force-placed insurance plan:
"And the House of Representatives is silent as the hogs continue to feed at the taxpayer's trough."Related Article: Big Banks Win, Taxpayers Lose as Fannie Insurance Overhaul Spiked (Image: Thinkstock)
On Rep. Maxine Waters pressing FHFA on its force-placed veto:
"Republicans and Democrats should both be outraged at this blatant assault on the U.S. taxpayer."Related Article: Waters Presses FHFA on Force-Placed Veto
On CFPB Director Richard Cordray urging lenders to move beyond safe QM loans:
"Does this mean that if banks stop making non-QM loans for fear of litigation risk that they will be accused of disparate treatment under fair lending laws?"Related Article: Cordray Urges Lenders to Move Beyond Safe QM Loans (Image: Bloomberg News)
On Cordray urging lenders to move beyond safe QM loans:
"That is easy for him to say. He is not out here trying to generate good loans."Related Article: Cordray Urges Lenders to Move Beyond Safe QM Loans (Image: Thinkstock)
On the need for more short sales of distressed homes:
"Clearing inventory, whether title is with the banks and mortgage companies or still with the defaulted borrower, is critical to establishing a 'balanced' market somewhere near equilibrium."Related Article: The More Short Sales Done in Mortgage Settlement, the Better (Image: Thinkstock)
On growing concerns that the CFPB will eliminate balloon loans:
"Banks that had nothing to do with the financial collapse are going to be run out of business. The banks that did exacerbate the collapse are punished by having their competitors run out of business. What a deal!"Related Article: Community Banks Alarmed by CFPB's View on Balloon Loans (Image: Thinkstock)
On the OCC's Thomas Curry vowing to crackdown on banks breaking the law:
"Institutions don't break laws, people break laws. Check out the disparity in individual enforcement actions between those at bigs and those at smalls."Related Article: OCC's Curry Vows Iron Fist Against Banks, Cooperation with AGs (Image: Bloomberg News)
On a 'Bitcoin ATM' that converts paper bills to digital currency:
"The rise of the Bitcoin network will eventually do the same thing to banks that email did to the postal service."Related Article: Tabletop Bitcoin ATM Is Huge for Payment Privacy
On the budget sequester:
"The real problem in the U.S. is not a weak economy or the lack of human and natural resources. It's political inaction."Related Article: How the Budget Sequester Could Hurt Banks (Image: Thinkstock)
On the budget sequester:
"Enough already! Let's get a short-term deal to avert this artificial problem and a long-term strategy of balanced fiscal discipline."Related Article: How the Budget Sequester Could Hurt Banks (Image: Thinkstock)
