'Some bankers. SOME': Comments of the week
January 27, 2017 8:30 AM
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 bankers being happy about the Trump presidency (via <a href="https://twitter.com/RAlexJimenez/status/822572899571761153" target="_blank">Twitter</a>):
“Some bankers. SOME. Please don't lump us all together @AmerBanker ”
Related article:Bankers count ways Trump will boost financial services
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In favor of the new administration leaving fintech alone:
“Let the innovators do their thing. Government should clear a path of fostering innovations not strangulation by regulation or lacking of political brawn to take a risk.”
Related article:Fintech doesn’t need D.C.’s help
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Another reader agreed that fintech startups don't need Washington's help (via <a href="https://twitter.com/IoT2040/status/823940790401507329" target="_blank">Twitter</a>):
On the Consumer Financial Protection Bureau’s law enforcement role:
“The problem is not that managements of large financial corporations are uncomfortable with someone looking over their shoulders and holding them accountable. The problem is we are uncomfortable that no one is looking over the shoulder of the one looking over their shoulders, and holding him accountable.”
Related article:CFPB’s Cordray signals he has no intention of resigning
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On the JPMorgan-Intuit partnership to share data via an API (via <a href="https://twitter.com/leimer/status/824306569022029824" target="_blank">Twitter</a>):
“This should be the defacto way that FI data is shared with external providers. We need to see better solutions.”
Related article:JPMorgan Chase and Intuit partner to share data via API
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On the CFPB ramping up enforcement actions ahead of a possible political showdown:
“Bringing an enforcement action (or changing how the action is brought) in order to bolster the agency's political standing is a classic abuse of power. Cordray should have been fired today.”
Related article:CFPB clearing decks with slew of lawsuits as Cordray battle looms
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A retort to an op-ed by Virginia’s former attorney general calling for the CFPB’s elimination:
“The article, being biased, fails to mention other areas like consumers subject to debt collection of debts they do not owe, opening of accounts without their authorization...I would be a bit fearful of living in Virginia with this level of commitment to consumer protection. Going back to the way things were is not the answer.”
Related article:Reforming CFPB isn’t enough. Eliminate it.
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