‘Shut this excrescence down’: Comments of the week

December 1, 2017 11:13 AM

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‘Shut this excrescence down’: Comments of the week

Readers react to the CFPB director shake-up, applaud honorees of American Banker’s annual banker awards and weigh in on the heated financial data debate.

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On the continuing battle over who will run the ever-unpopular Consumer Financial Protection Bureau:

“Shut this excrescence down.”

Related: Winner and losers of CFPB's leadership showdown

Jerome Powell, chairman of the U.S. Federal Reserve nominee for U.S. President Donald Trump, waits to begin a Senate Banking Committee confirmation hearing in Washington, D.C., U.S., on Tuesday, Nov. 28, 2017. Powell signaled broad support for how the Fed operates, regulates and guides the economy, offering a full-throated defense of the government institution he's about to lead. Photographer: Andrew Harrer/Bloomberg

Andrew Harrer/Bloomberg

Passing judgment on lawmakers’ questions of the nominee for Federal Reserve Board chair:

“The questions from some Senators today of Mr. Powell were a stark reminder as to why it is so important to have separation of the Fed from Congress.”

Related: How Fed’s Powell would reshape banking regs

Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), listens during a Senate Banking Committee hearing in Washington, D.C., U.S., on Thursday, April 7, 2016. Testimony from Cordray today may shed light on the status of several regulations that could curtail revenue from payday loans, prepaid cards and other financial products. At a March 16 hearing, Cordray hinted that a rule to limit prepaid cards won't be finished until June. Photographer: Andrew Harrer/Bloomberg *** Local Caption *** Richard Cordray

Andrew Harrer/Bloomberg

In defense of the CFPB’s work under former Director Richard Cordray:

“CFPB was doing a better job dealing with CRA problems than the State regulators, the FDIC and the Fed, none of which over the past 15 or so years had done well against prod/service abuses.”

Related: Mulvaney pledges 'dramatic' shift at CFPB, freezes rules and hiring

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On efforts to challenge the Trump administration’s pick for acting director of the CFPB:

“Political and bureaucratic nonsense, courtesy of Richard Cordray. I hope the voters of Ohio are paying attention.”

Related: CFPB leadership case assigned to Trump-appointed judge

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On calls for regulatory interference in the U.S. to make sure banks are sharing financial data with third-party apps:

“Fundamental issue for the future of #fintech and consumer financial services in the US, especially as other countries continue to tackle and solve these issues head on.” (Via Twitter)

Related: Banks vs. aggregators: Who’ll budge in the data-sharing battle

John Kanas, non-executive chairman of BankUnited.

On John Kanas, the chairman of BankUnited, winning American Banker’s lifetime achievement award:

“Great to see a confident, daring, successful banker w/ a long, impactful career highlighted!” (Via Twitter)

Related: Lifetime Achievement: John Kanas

Richard Ware, chairman and president of Amarillo National Bank.

On American Banker recognizing Amarillo National’s Richard Ware:

“Wonderful story about family, customer service and relationships, and a thriving bank that survived the Great Depression AND the oil/real estate debacle of the 80s that felled many Texas banks, especially in West Texas. Community focus and relationship building have too often fallen by the wayside due to continual consolidation, mega banks and internet banking. It's nice to see that management succession is being taken into account as that is a major risk to independent, family owned banks.”

Related: Thriving Family Operator: Amarillo National's Richard Ware