Slideshow Dunkin' Donuts, Meet the CFPB: Comments of the Week

Published
  • January 16 2015, 10:00am EST
8 Images Total

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 from our social media platforms and sister publications.

(Image: Fotolia)


On the Consumer Financial Protection Bureau's plan to offer a scorecard that will help colleges compare campus banking products before they strike deals with financial institutions:

"I wonder if [the CFPB] or [the U.S. Department of Education] will require Coke/Pepsi or Dunkin Donuts to disclose their proprietary contracts with all colleges." (via Twitter)

Related article: CFPB's Scorecard Could Alter Bank Bids with Schools

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On renewed calls to break up JPMorgan Chase:

"Investors aside (perish the thought!), what are the risks and rewards for other JPM stakeholders if the company stays together or dissembles? Perhaps I'm not listening carefully, but I've yet to be treated to a meaningful explication of whether or not customers, employees and retirees, partners (e.g., payments networks), communities in which JPM does business, etc. should give a rat's patootie one way or another."

Related article: JPMorgan's Dimon Starts 2015 on His Back Foot

(Image: Bloomberg News)


On JPMorgan Chase chairman and chief executive Jamie Dimon's defense of the bank's size:

"JPMorgan refuses to right-size itself. Its TBTF 'poison pill' allows it to thumb its nose at the markets and its shareholders. Dimon is free to snipe at its own regulators from behind this protective shield. Witness the Stockholm syndrome taking place among the regulators he attacks."

Related article: JPMorgan's Dimon Starts 2015 on His Back Foot

(Pictured: JPMorgan Chase chief Jamie Dimon. Credit: Bloomberg News)


On the argument that regulating banks by complexity rather than size would be more effective:

"This article is wrong. Most failures happen because of asset-liability mismatches, and next is taking too much credit risk. Regulate those strictly."

Related article: Regulate Banks by Complexity, Not Size

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On technology that will let Wintrust Financial customers conduct ATM transactions with their smartphones rather than swiping plastic cards:

"I see this [as being] more helpful in cold-weather states where it is challenging to keep the car window open for long [enough] to bank with an ATM. It also eases the challenge of reaching out to the ATM to swipe the card."

Related article: Getting Cash? Phone It In: Wintrust Embraces the 'Cardless ATM'

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On a CFPB mortgage comparison tool that will allow prospective borrowers to shop for the best interest rates:

"Is this agency intent on destroying the relationship model of small community banks? Sure seems so."

Related article: CFPB Launches 'Unbiased' Mortgage Rate Tool

(Pictured: CFPB Director Richard Cordray. Credit: Rick Reinhard)


On a CFPB mortgage comparison tool that will allow prospective borrowers to shop for the best interest rates:

"Who's going to police the survey? How is it going to account for all the overlays? How timely will the quotes be? Do you ever get the feeling the Bureau just assumes we're all crooks?" (Via National Mortgage News).

Related article: CFPB Launches 'Unbiased' Mortgage Rate Tool

(Image: iStock)