'Does he think a bank run is fun?': Comments of the week
February 3, 2017 1:05 PM
American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
On the big banks mostly keeping mum about Trump's travel ban initially:
"Bravo to the banks with the sense not to jump into every political firestorm. ‘Reputational' issues go both ways."
Related article:Big banks stay mostly silent on Trump travel ban, with one exception
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On the possibility of banks aping Amazon’s personalization techniques:
“I for one have not been terribly impressed by how well Amazon ‘knows’ me. For example, I have purchased books and other items as gifts for others, based on their interests, age, gender, etc., and subsequently have been inundated with recommendations for similar books and items. If Amazon ‘knew’ me, they would not recommend products for a size 8 female college student interested in gardening, an amalgam of the purchases I've made in the past.”
Related article:Can AI make banks as good as Amazon at knowing customers?
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On whether banks will invest in standards that make sharing financial records with third-party apps easier (via <a href="https://twitter.com/patrickharding/status/825695604634423296" target="_blank">Twitter</a>):
"U.S. lacks business driver, needs regulation like PSD2 in UK to drive change and innovation"
Related article:The data access debate is about to get a lot more interesting
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Weighing in on how banks should share data with third-party apps (via <a href="https://twitter.com/shamir_k/status/826216868826411008" target="_blank">Twitter</a>):
"Open APIs with control and oversight are safer than screen-scraping."
Related article:The data access debate is about to get a lot more interesting
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On the possibility of loosening bank rules on robo-calls:
"TCPA was enacted to protect consumers when cell phone bills counted minutes. All that has changed. Put cell phones on the same playing field as landlines. National do not call lists save consumers from unwanted sales calls. This possible change is a long time coming.…"
Related article:Banks' call for looser robo-call rules getting friendlier reception
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Another reader points out the negatives of relaxing the rules on robo-calls to cell phone numbers:
"Bankers are also consumers and should be appalled at the possible change. If you want to receive more dinner hour calls at your family's home then it's time to cheer. Moreover, when I receive unwanted calls it turns me off to the business responsible."
Related article:Banks' call for looser robo-call rules getting friendlier reception
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On President Trump's executive order banning travel to the U.S. by refugees and others from certain countries:
"The ban is an example of executive overreach that will do more harm than good. By creating a religious test, i.e., preference is being given to Christians, we are providing a rallying cry and recruitment tool to religious terrorists. Moreover, since 2001, ZERO terrorist deaths in the US resulted from immigrants from any of the 7 countries. Is it strange that Saudi Arabia or Pakistan isn't on the list, or any Muslim countries where the President has business interests?"
Related article:Big banks struggle to understand scope, impact of Trump travel ban
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On Goldman Sach's CEO telling employees the company does not support Trump's travel ban:
"I am grateful for true leaders like Lloyd Blankfein who are speaking out and taking a stand for what is morally, legally right for our country. I too oppose this ban that the president has put in place."
Related article:Goldman Sachs breaks with Trump administration on travel ban
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On a Congressional Republican's call for the U.S. to disengage from the Basel Committee and Financial Stability Board (via <a href="https://twitter.com/jorgeponce18301/status/827484292867641345" target="_blank">Twitter</a>):
"Does he think a bank run is fun?"
Related article:Top Republican demands Fed stop participating in Basel, FSB
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