Slideshow 'Don't Hate the Whippersnapper': Comments of the Week

  • September 18 2015, 7:30am EDT
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American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of articles and from our social media platforms.

On community banks' disdainful attitudes toward 'entitled' millennial staffers eager to ascend the ranks:

"Guarding power for the sake of tradition in today's world is killing the ability to for community banks to grow and respond. And one more thing, what some may perceive as 'entitled' could simply be an unfair label on an entire generation simply because they can do more on their mobile device in 15 minutes than it took a team of people 40 years ago all day to accomplish. Don't hate the whippersnapper, find a way to relax and delegate."

Related Article: Bankers May Not 'Get' Millennials, But They Need Them

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On the Justice Department's recently announced plan to hold top bank executives responsible for wrongdoing at their institutions:

"Most HR directors and in-house general counsel will immediately respond to these policies with new training and compliance requirements. These changes might in the end not be very effective in changing overall culture, but there is no doubt that the policies will have an impact on internal corporate priorities."

Related Article: Is New DOJ Policy to Target Execs a Sham?

On concerns about whether a faster electronic payments system will create more opportunities for fraudsters:

"As far as payment speed, unless someone is going to vet the legitimacy of every transaction, increasing the speed is no doubt going to increase the risk of fraud proportionally if not exponentially."

Related Article: Will Faster Electronic Payments Mean Faster Fraud?

In response to a call for unity among banks of all sizes from incoming American Bankers Association head Rob Nichols:

"The best alternative for my community bank is to be unified with other community bankers who go to work every day understanding their success will only come from a mission of serving their communities. Spending one dime, one breath, or one brain cell defending the indefensible actions of Wall Street runs counter to that mission."

Related Article: New ABA Chief Seeks to End 'Bank-on-Bank Violence'

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On whether the Federal Deposit Insurance Corp. is ill-equipped to oversee a bank the size of BB&T Corp.:

"The idea that the [Federal Reserve and Office of the Comptroller of the Currency] do a better job of regulating large banks is absurd. Had the FDIC been lead on the largest banks pre-2008, the crisis never would have occurred. The acts of fraud and malfeasance that were tolerated by the Fed and OCC would never have occurred under FDIC. Go through former [FDIC] chairman [Sheila] Bair's published description of the fiasco at Citigroup, Countrywide and Wachovia and then tell me about the efficacy of OCC and Fed regulation of large banks."

Related Article: Regulating BB&T Is Too Big a Job for the FDIC

On the recommendation that banks overhaul their outdated, branch-based business models and start thinking about new ways to satisfy shareholders' thirst for returns:

"Unfortunately, it's not only bankers who are wed to stale business models and stodgy thinking. The federal bank regulators suffer from the same mindset. Time for fresh thinking in Washington as well as in bank boardrooms and [C]-suites."

Related Article: The Quiet Crisis in Banks' Shareholder Value

On the tension between fair-lending issues and big data's potential to change banks' underwriting models:

"Balance needed says author. Tell that to shareholders!"

Related Article: How to Talk About Big Data and Lending Discrimination